Stock has given a sharp downside move few weeks ago in an impulsive manner. After that stock has bounced back sharply in a three wave corrective structure and halted near 61.8% fibonacci retracement level and retreated lower.
Stock is likely to fall towards 3300 and 3200 in the coming weeks.
TCS making head & shoulder pattern in DTF & if TCS close above 3140 then neglect H&S pattern. TCS following trendline support from 2020 so watch & trade carefully with stoploss
Their are 3 expected bottom for TCS, which is predicted using ELLIOTT WAVE ANALYSIS. As shown we are in the process of WAVE C. Ending of WAVE C is expected at 3 point, which are 62%, 100% & 123% (projection of WAVE C)
TCS Short Selling Recommendation
Introduction:
This report aims to provide a technical analysis of the TCS stock and a recommendation for short selling the stock in the short term. The analysis is based on the latest charts and indicators and is intended for investors and traders who are looking to capitalize on market movements.
Background:
TCS is an Indian...
Introduction:
This report aims to provide a technical analysis of TCS stock and a recommendation for short selling the stock in the short term. The analysis is based on the latest charts and indicators, and is intended for investors and traders who are looking to capitalize on market movements.
Background:
Tata Consultancy Services Limited (TCS) is a leading...
Tcs Posting Good Results Today Spot Cmp 3118
Tcs Follow Down Trend Channel Lower Low Pattern
Important Levels
Above 3170 Go Long For Target 3300 ++
Below 3360 Go Short For Target 2800 ++
NSE:TCS
Observations:
1) On 1day time frame, it closed above 100DMA.
100DMA is placed at 3598.37 level.
So range of 3590-3600 will be immediate support range.
Please refer below chart : 1day Time Frame.
2) On 1 hr time frame, we can see that after earlier rise in December, it has been trading in range of 3530-3650 level range. Breakout of 3650 level...
NSE:TCS
Observations:
1) On 1day time frame, we can see that it took support from 50DMA and bounce from it.
50DMA is placed at 3581.36
Also interensting point is that most of all the major simple moving averange are in range of 3575-3585 level range.
We can say that 3575-3585 is major support range.
Please refer below chart : 1day Time Frame. ...
** Trade Plan **
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Setup :> Here there is a Pennant Pattern Forming . So be a Positional Trader in the stock.
Entry :> Should be done on the Closest or on the lower trendline . Price Range in the chart above.
Exit/ Target :> Possibly the nearest Support shown in the chart.
Stoploss :> Stoploss should be kept just above the upper tredline .
Risk :...
![TCS: Simple Trade Setup | TCS | 13-12-2021 [ INTRADAY ]](https://s3.tradingview.com/3/3YwdRXA4_mid.png "Simple Trade Setup | TCS | 13-12-2021 [ INTRADAY ]")
