THIS VIEWS ARE ONLY FOR EDUCATIONAL PURPOSE , NEVER FOLLOW ANYONE BLINDLY , TRADE WISLEY ! HAPPY TRADING !
TCS looks like forming a double top pattern and if it sustains below 21 MA then we may see 2900 odd levels. Breaking that level (2900-2880 zone) on the downside would confirm a double top pattern. Happy Trading! InvestPro India Team
TCS was in a small channel for the last few days. The channel has been broken and restest is possible and then we can see an upmove
Stop loss 3150 Target 2900 Please review my analysis
Buy TCS levels are mentioned in the chart. 10 to 11% Target with a SL of 2864.50. Do check the chart carefully for trade execution. This is not a recommendation, it is a personal view for educational purpose.
2 posibilities in tcs: 1) by making higher high and lower low (upto 3000) bearish below 2840 (bullish) or 2) tcs hold rectangle channel 2887 - 2600(bearish)
Note: This is for educational purpose only. There seems to be a cup & handle pattern which is a bullish continuation pattern.
Note: This is for educational purpose only. 21 EMA has acted as a dynamic support in the past. There seems to be a pullback to 21 EMA and formation of hammer. Moreover, there is increase in volume. RSI is at 58 which is nearing bullish zone.
This Trade is derived on Probability basis; Do Not Risk more than 3% of your Principal amount;
Market scenario is positive, everyone will buy now but smart money booked their profit. So in order to be successful trader you must need to think and act like a professional trader. If you liked the concept hit a like and comment your views are appreciable and don't forget to share with your friends and colleagues. -MOHIT RAJANI
Upward Impulse complete and the correction forming is a Fat Correction where Wave A is complete B is almost complete; Hence Wave C is yet to start and this is going to be a downward Impulse with 5 Waves and this correction ca retrace the Previous Impulse as much as 100% as per the rule of the Elliott Wave Theory; So this is the time to book your profits;