TCS
LTIM Decoding the price actionThe price action of LTIM suggests that it is in consolidation for a couple of months.
the supply and demand are now in a 10-12% range.
the script had attempted fake-outs in the past as well which failed at trendline resistance areas.
LTIM needs to give a close above this level for any decisive move
Failure to close above 4800 makes it a strong resistance zone
The counter holds the 4350-4320 support zone.
TCS Swing TradeTCS is near crucial support zone on daily chart. We can take swing trade here.
Entry:
We can go long after close of strong bullish candle near support zone.
Target:
We can keep the target near the next resistance zone as marked on chart.
Stoploss:
We can keep stoploss below the support zone.
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Infosys near support zoneInfosys is near crucial support on daily chart. We can take a swing trade here.
Entry
We can go long after close of strong bullish candle near support zone.
Target
We can keep target as the next resistance zone as marked on chart.
Stoploss
We can keep stoploss below the support zone.
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Hammer PatternHammer candlesticks typically occur after a price decline. They have a small real body and a long lower shadow.
The hammer candlestick occurs when sellers enter the market during a price decline. By the time of market close, buyers absorb selling pressure and push the market price near the opening price.
The close can be above or below the opening price, although the close should be near the open for the real body of the candlestick to remain small.
The lower shadow should be at least two times the height of the real body.
Hammer candlesticks indicate a potential price reversal to the upside. The price must start moving up following the hammer; this is called confirmation.
Script = TCS
Time Frame = 15 min
Morning StarA morning star is a visual pattern made up of a tall black candlestick, a smaller black or white candlestick with a short body and long wicks, and a third tall white candlestick.
The middle candle of the morning star captures a moment of market indecision where the bears begin to give way to bulls. The third candle confirms the reversal and can mark a new uptrend.
Script = TCS
Time Frame = 15 min
TCS LONG TERM PLANNING A Detailed analysis of TCS for Medium term Hold (1-3 months): CMP 3558
The Chart has broken down the long-term resistance at 3485, however, the CUP formation is yet to be completed. Once the CUP is formed at 3815, which certainly is our first target, the Chart will show some correction and price action to complete the HANDLE formation as displayed in the chart. Once we see the price action after completion of CUP & HANDLE formation, we are ready for a long-term hold. We can have 3 resistance level and two entry levels as our targets as detailed in the chart. The chart is accompanied by GOLDEN CROSS OVER.
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