TCS | To Bleed MoreFrom the Highs of 4400s to the recent lows of 3500s stock has almost corrected near 20% n finally started to rose from a good weekly demand zone
But it seems the trouble is not over yet
As we can see a strong supply zone with gaps is present in the daily time frame, with a supply range between 3600 - 3670
Any signs of bearishness in lower time frame will be a good time to sell CE or buy PE with a strict Sl above 3680 for a downside target of 3450
Stock also has one more selling opportunity area in daily time frame with supply range between 3750 - 3775
If monitored properly can benefit from both the opportunities
Tcs-price
TCS - Sky is the limitNote: 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.
Validation of parallel channel and decisive zone for TCS. 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 PRICE ACTION with Volume :
No INVALID sign of any kind has been seen yet. That's why we have no clue for selling. In terms of price and volume, the rhythmic seems moving. Possibility for up-break out or wait for sign of invalid candle