Tcs has taken trendline support + previous resistance has been made a support zone.
If it breaks above 3555 then it looks good for the above marked targets.
RSI is at GOOD LEVELS
MACD is BULLISH
BUY ABOVE 3555
TARGETS ARE MARKED ABOVE IN THE CHART.
Shall be adding position on TCS once LL LH structure gets broken due to:
1. Near CIP zone.
2. Channel support area.
3. RSI divergence
Please trade according to your knowledge. I am not a SEBI register expert. This is just for educational purposes
TCS is forming an ending diagonal in sub-wave 5 of wave((5)).
Price is about to complete the last move of the ending diagonal.
It has created sub-waves 'i' and 'ii' of wave 5.
The trader can initiate a long position for wave 'iii' after the breakout of wave 'i'.
Rule of invalidation : wave 'ii' can never overlap the starting point of wave 'i'. The best way to...
Note: This is for educational purpose only. Please do not trade in F&O based on this.
There seems to be a bullish reversal from 100 SMA, which has acted as dynamic support in the past. Relative strength of TCS is more as compare to Nifty index.
TCS is trying to from a "W" pattern on daily time frame. Looking good for long position.
Current Price: 3505 rs
Good Entry Point: 3400 - 3480 rs
Target: 3700 rs (1st) - 3900 rs (2nd)
Stop Loss: 3375 rs
RSI: 60 (Not in over brought zone)
Probability: Positive for Long position
Risk Reward Ratio: 1:2
Please share with your family and friend if you...
TCS has taken support at 3400, and now is slowly rising up
A strong Scrip is now ready to move up, MACD is also giving the long signal
Can enter Long for a Positional Swing trade
Buy on every dips from here on with a SIP in TCS and many other IT sector stocks like INFY,HCLTECH as long term story of IT sector in INDIA is intact.
FOLLOW me for more such content ahead...Till then,
HAPPY TRADING :)
INVERTED head and shoulder pattern formation,,
now we have to just think where this type of pattern is formed
or you can say in which phase of market this type of pattern is formed
let see price action and indicators are in favour of pattern formation