LET COLOURED AREA WORKING AS SUPPORT BE BROKEN ON CLOSING BASIS(USE 30 MINUTE CANDLE)
TARGET IS GIVEN WHICH IS GAP WILL BE FILLED AND ALSO TRENDLINE SUPPORT IS THERE
TCS is currently testing its support of 2200, and has closed below it today. I use Vix Fix along with On Balance Volume to see the trend. Here the OBV is decreasing while the Vix is increasing - clear indication of Share sliding down. Further confirmation is taken using a setup of Stochastic Momentum and Awesome Oscillator. Stochastic shows the beginning of down...
TCS IS RESPECTING TRENDLINES NOW TAKING RESISTANCE FROM UPPER LINE IT MUST TOUCH LOWER LINE NOW TARGET GIVEN FIRST LET RED LINE BE CLOSED ON CLOSING BASIS STOP LOSS 2238 ON CANDLE CLOSING BASIS
NOTE: TRADE AT YOUR OWN RISK
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ONCE IT CLOSES ABOVE UPPER TRENDLINE ON CLOSING BASIS TARGET IS GIVEN WHICH ALSO A GAP WHICH MAY BE FILLED OR IT MAY KEEP CONSOLIDATING IN WEDGE IT MIGHT ALSO COME DOWN TO LOWER TRENDLINE TARGET GIVEN FOR SHORT TOO LET BEARISH CROOSOVER OCCUR IN STOCHASTICS
TCS in its exhaustive upmove and we may witness a sharp decline from 2280 levels in coming days....if this happens we can witness 2030 levels soon.....Respect Risk.....Happy Trading
TCS seen in its exhaustion final move ...final push towards 2280 can be seen with a sharp downfall towards 2030 levels......Respect risk......happy trading
TCS buy Near 2135-2125
Stoploss 2075
Target 2250-2350
Reasons For Trade- 1.Excess buying can be seen near to channel support 5th time
2.Price is near to daily support of 2080
3. Price has taken support from 200 EMA on 4 hour chart
4. Risk Reward 1:1.5
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