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Tcsshort

TCS Short on 15min TimeframeTCS on 15min Timeframe, reflecting a beautiful price action. It was in an uptrend for a while forming a double top eyeing for a reversal. The point where it formed a second top would have been a great opportunity to short. But who missed at that point including me, now there is another eye-opener. Forming a strong double top, it reversed from there breaking first leg's low(Support) and then retesting it again(Support turned to Resistance). More importantly, there is a weak candle Doji formed after a series of green candles. Also resembles a lower high point in a downtrend which is a place to enter. Simply, SHORT.
NSE:TCSShort
by imchartist
TCS - Heading DownTCS 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 trend, further confirmed by the Awesome going Red. First stop from here should be 2130, thats where the support lies, which if broken should 2100 soon. NSE:TCS
NSE:TCSShort
by captainarora