As expected on 14th oct2016- TCS to kiss the zone 2250-2260 which could be the zone for taking longs- here we go, it kissed 2260 & bounced.
It's an eye popping risk reward as turning from 2260 -likely we don't have any risk or marginal risk of taking longs
Oh my god! TCS has given major bullish signals in MACD and RSI. Please see the Arrows you will get what I am Talking about and TCS is in value Zone. One can buy Nov Futures and stay long for a target of 2450-2500-2520 with a stoploss of 2354 on closing basis. One can accumulate 2450 Nov calls all trading @ cheap rate.. Best of luck
TCS on lower timeframe looks like some more correction is pending likely I will wait & watch for the zone 2250-2260 -if it falls & takes support then in that case -I will look for a bounce in the zone 2430-2450 with recent low as a stop.
This is a weekly chart so going above 2770- will be the clue for TCS to fly in the open sky. Keep a watch. It has been travelling in a corrective fashion since late 2014 when it made a high@2840. Tripple correction is going on in TCS.
TCS May open in red bad result posted by TCS or not so good result so its bad according to market but margin beats estimates and guidelines for next quarter seen good.. TCS if Open in green then TCS will hit 2370 and if not able to hold 2370 then stock will come down and closing will be below 2300.
In last quarter TCS reduced its guidance for upcoming quarters. Th fear of the same is being reflected in TCS chart. What will happen this time???
Does TCS will go further down to see 2150-2200 or the fear has already been discounted or if we can see any suprises in the results???
My view is to go short.....
Please express your views???
TCS MAY CORRECT HERE TILL NEW 52 WEEK LOW OR 2300-2200-2100... THIS QUARTER ALSO NOT LOKING GOOD FOR TCS YOU CAN SEE ANOTHER REVENUE FALL IN THIS QUARTER
TCS gave a swing above the prev swing with a strong close. trading at 2437 gave insight of a pattern at 2497-2518. SL below 2395.
CMP 2437
TGT 2497/2518
SL 2394
Everything is explain I guess... Enter short positions only on downside breakout. I won't prefer an upside breakout.
check your rules before trading.
Happy Trading !
For now, it seems like the price action shall take up prices to previous support level and will also fill up the Gap. The further price action will be decided once the gap is filled. Now it is important to note the price action whenever the prices touch previous support as high selling is expected at that levels which might take prices further down.
Overall Trend for TATA CONSULTANCY was bearish. Today After GAP Down it established and started climbing UP. We can see the clear bouncing after 2nd Half. This Share can be bought with keeping 2284 as Stop loss in mind. Soon TCS can touch its life time high..
