NOFTY50 ANALYSISAs we see NIFTY take support from the 200EMA and 0.382 FIBO LEVEL after being bearish from the last 3 days. NIFTY will start its bull run again if it sustains above 200EMA.
Fiboretracement
GICREFew reasons to focus on this stock:
It has recently touched and took support at the 0.618 Retracement level of entire 0-3 Wave.
It is at monthly trendline support.This is a very strong support
It is backed by Dis-investment theory.
Any strong reversal can make this stock fly
Previously I have done mistake by taking buy decision at an intermediate support. I have learned an corrected this time.
Hope it gives a proper and promising reversal from the mentioned zone.
CHART & ANALYSIS
ADARSH DEY
TCS - BEARISH FORMATIONTCS -the IT GIANT seems to be in trouble .FIBO retracements , bollinger band and rsi all have turned negative .
Stock can move down to 3063-2984 with sl at 3125 .
stock is trading below 50 & 100 days moving average and can go down to 200 sma 2807
