Note: This is for educational purpose only.
TCS has broken out all time high with increase in volume and post formation of tight build up near a very strong resistance. I feel the only way from here is up for TCS. RSI is at 70 which indicates bullish momentum but slightly overbought. Expect a side ways movement before the next upmove.
The stock momentum is slanting up-direction.
It break the direction with heavy volume.
At present stock is gaining the buyers volume.
Buyers are attracting in the present scenario.
But there is a strong resistance near the price.
In the conclusion I will say that because of the heavy volume Stock can break the resistance and go up.
But traders can not...
Parallel Channel defined validation , more than 2 price is used to find price point by connecting at least minimum two price in degree.
TCS trading price at DECISIVE zone for further direction: up-break or follow the channel as projection. If price is continue call follow the price parallel channel, the first target is at 1977 nearby.
Observation by using ...