TCS SPOT is in strong uptrend. If this holds present support zone. It can rally up to 2450++.
View negated if create new LOWER LOW on Day Closing Basis.
What is Dow theory?
The Dow theory is a financial theory that says the market is in an up-trend if one of its averages (i.e. industrial or transportation) advances above a previous important high and is accompanied or followed by a similar advance in the other average. For example, if the Dow Jones Industrial Average (DJIA) climbs to an intermediate high, the Dow...
The stock has moved to all time highs. I think there will be a lot of resistance at the high point and it will retrace towards the long term resistance marked on the chart.
It is in a strong bull run and will provide a good buying opportunity in the coming few days.
Buy @ 3650
SL @ 3400
Trailing stop loss strategy.
⚡️Horizontal Breakout above 490
⚡️Trend of stock has reversed after sloping trendline breakout above 420
⚡️200 SMA breakout above 420
⚡️Strong trend confirmation by RSI and ADX
⚡️Looks good for positional 10-20% upside with SL below 425
Double bottom formation is very bulish pattern and looking at market conditions it will surely workout.
one can go long after the breakout of accumulation zone.
