TCS trade ideas
TCS | LongTcs after giving a breakout retraced for a few days. Now resuming upmove again.
Technical indicators give positive signal as well.
Can buy on 7 August close at 3484.05
Target indicated on chart.
SL will only trigger if stock closes below Red Area.
If stock takes time to hit target, SL can also be moved to trendline.
Tcs following this strong resistance line 3460, 3518, 3257
This 3555 lvl is a strong resistance point, also in IT index this resistance line is present. So if this 3600lvl breaks then it's possible for some breakout or it will move down. Also after double tops formation in the weekly TF it cant break this level.
So according to me, shorting can be done, buying at 3460 target at 3257 and SL at 3518.