TCS -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
After reaching the target comfortably, profit was booked. Now it has shown a nice rejection candle at the upper end of the channel.
If it opens/crosses < 2054, it'll be an opportunity to sell it for a swing trade.
Rejection candle is identified by the long wick on the upside. Bulls tried to push the price above the resistance but bears won ultimately.
SBIN broke again 200 levels on friday. It is again and again hovering around 200 levels.
We can use trend lines, Support and resistance levels drawn on the chart to initiate intraday positions around those levels.