Cup☕ pattern in tcs (long trade activated) TCS is making a kind of cup pattern on daily time frame also we can see IT sector chart is looking bullish now a days and today retest is also done so as per my analysis I found good risk reward 1:3 in this trade.I'm bullish on this particular stock. What's your opinion please share.
Happy trading.
Trade ideas
TCS ✅ Price Test multiple time on daily and show a nice movement. And also price give false breakout {That a trap}.
✅ Now 3390-3446 Break and now price will come to retest the level and that a Grate opportunity for go long on TCS.
✅ But enter on a Proper Retest.
✅ If price not stop and go up then we have a 1 Hour resistance zone 3630-3666. on hourly price show Hevly movement.
✅ Price will react on 3630-3666 if price hit level and come to retest zone.
Resistance with DivergenceAs the name suggests, resistance is something which stops the price from rising further. The resistance level is a price point on the chart where traders expect maximum supply (in terms of selling) for the stock/index. The resistance level is always above the current market price.
The likelihood of the price rising to the resistance level, consolidating, absorbing all the supply, and declining is high. The resistance is one of the critical technical analysis tools which market participants look at in a rising market. The resistance often acts as a trigger to sell.
Script = TCS
Time Frame = 1 Day
TCS Positional viewTCS is looking good to buy as its quarterly result is on the corner. Also, the chart shows strong support at the 3200 to 3300 zone.
one can take a position on TCS as it has an excellent risk-reward ratio this position.
stop-loss marked with the red line on a daily closing basis.
targets are kept in the green line
thank you!!!
TCS Stock Reaching Resistance - Time to Short SellTCS 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 multinational information technology services and consulting company that is listed on the National Stock Exchange of India (NSE) and is widely followed by investors and traders.
Analysis:
The TCS stock has been in an uptrend for the past few months, but recent price action suggests that the stock may be reaching a resistance level. The stock has been trading around 3423.10 levels, and a breakdown above this level could signal a short-term trend reversal.
The technical indicators are also pointing to a potential short selling opportunity. The Relative Strength Index (RSI) has been trending higher, and is currently at overbought levels, indicating that the market is overbought and may be due for a pullback. Additionally, the Moving Average Convergence Divergence (MACD) histogram has crossed above the zero line, suggesting that the trend is losing momentum.
Furthermore, price action on the chart shows that the stock has reached a resistance level and is showing signs of a potential reversal with bearish cand formation.
Recommendation:
Based on the analysis above, we recommend short selling the TCS stock if it breaks above 3423.10 levels, with a stop loss of 3469.25. This strategy aims to capitalize on a short-term trend reversal and capture potential profits as the market pulls back. The target 1 is 3377.00 and target 2 is 3337.30.
Disclaimer:
It's essential to keep in mind that the market is highly volatile and unpredictable. Therefore, it's recommended to keep a close eye on the price action, and use stop loss and take-profit levels to minimize risk and maximize returns. It's important to conduct your own research and analysis before making any investment decisions and always consult a financial advisor before taking any action.
Conclusion:
In conclusion, the TCS stock appears to be reaching a resistance level, and technical indicators suggest a potential short-term trend reversal. Therefore, short selling the TCS stock if it breaks above 3423.10 levels with a stop loss of 3469.25 and target 1 of 3377.00 and target 2 of 3337.30 is a recommended strategy for traders and investors looking to capitalize on market movements in the short term.