TCS faced Resistance at Higher level & Indicator turn negative Hi Trader,
TCS faced Resistance at Higher level (see chart) & Indicator also turn negative as well.
Bearish view due to below point:
1) TCS faced Resistance at Higher level 2260-2290. Got 3 times reverse from there.
2) TCS will major support at 2030 -2050 price range for good risk reward trade.
3) Big Bearish Engulfing candle form at daily chart .
4) Bearish Engulfing candle form with high volume more than 20 day average. See chart for more detail
What Indicator are saying:
1) RSI gone below 50 level . Bear will more control stock now.
2) Force Index oscillator gone below zero level mean bearish trend.
Happy Learning );
Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
