TCS - Bearish Bat & Doji Candle at 2500- Target 2465-2430-2400Bearish Bat at 2500. If TCS goes below 2490 - I shall be looking for target 2465-below 2465 for 2430 -below 2425 for 2400 & below 2400 -can be 2345.
Stoploss above 2516 ( 1 point above X- level)- In first place once it dips below 2490 - it should not bounce above 2500 which will early signal to be cautious in the trade else we enjoy 2465- 2430.
Candlestick Pattern- We have doji candle
What is a 'Doji'
Doji candlesticks look like a cross, inverted cross or plus sign. Alone, doji are neutral patterns that are also featured in a number of important patterns. A doji candlestick forms when open and close are virtually equal.
In our case open & close for current candle is 2496 so it qualifies for a doji candle.
When to execute the trade
As doji is a neutral pattern - we should wait for market to dip below 2492 - we will take 2490 as trigger point for targets mentioned above 2465- 2430 & below 2425 for 2400 & below 2400 for 2345.
If it bounces like a ball from 2425-2435 zone
Also, If TCS holds 2425-2435 - one can take long positions(buy) with stop loss below 2425 & target- 2465- 2500- 2525
