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TCS trade ideas

TCS is is all about H&S and Triangle.Well these ideas were conceived by me before. Recently the triangle breakdown was understood by me just one day after it declared its result. These charts were with me. Though the H&S target has been met,the triangle break dowm points little lower.. this is my analysis not any trading recommenadtion. H&S break down does not say the decline will stop at the target. with Nasdaq movining here TCS may have bounce on Monday. So only breaking the recent low,and sustaining below it, may take TCS to triangle breakdown target. Don't forget to like my post.Follow me to get updates.
NSE:TCS
by bijoy2526
1
How Resistance Turns into A Support?Hi You must have often heard that a resistance once taken out could act as a potential support level. Let us see through this chart how this happens. Firstly there is a strong resistance zone on the left bottom of the chart, which is also 2019 high. Price took a knee jerk reaction from that level. Many traders would have bought near the highs in a bull market but now they are sitting in a loss. They would be thinking that as soon as the price comes back to their average price or cost, they would exit/sell. 1. Finally after the sharp bear phase, price rallies back to the 2019 highs. Now the above traders/investors would start selling at cost. Many new traders who think that price is at resistance would also start shorting (selling). Those who bought at lower prices would also try to book profits. So there is a flux of sell orders at that level. But wait! is that true? 2. Selling is there but buy orders are just overwhelming. Buyers are absorbing all the supply and managed to hold the reaction of selling. Or you can say that seller were not strong enough or buyers were stronger. If sellers are not strong and buyers are strong then what would happen? Tell me..... Yes you are right, the price would rally higher. And it did. 3. Now all those seller who acted at stage 1 would be shocked and want to book their loss at a better lower price. There are others who still think that this stock is weak and the BO is fake, so they start shorting. Price pulls back to the 2019 highs. 4. Now stage 1 sellers have a better opportunity to cover their loss, so they start buying. Left out buyers also start buying due to better bargain. Pullback buyers enter the market. This large flux of buying orders pushes the price higher and the rally resumes. 5. In this way, the prior resistance turns out to be a support for the stock. This same psychology repeats at 6&7 where price holds previous resistance as a support. Imho, Its always beneficial to see any market or chart from psychological point of view rather than merely patterns and signals. The same market psychology is true for how a support once broken, turns into a resistance. Thanks for reading. I hope it would be useful. Regards
NSE:TCSEducation
by Bravetotrade
6
TCS: Results, Chart set up and trading strategy TCS - the zone of 3385-3420 has played an important role for the stock From charts we observe that - it acted as resistance in June 2021 - provided support between Aug 2021 - May 2022 - With results round the corner, the stock is trading 4-5% below that level at 3277 Given the setup, one may consider to sell TCS 28 July expiry 3400 Call option currently around 37 The strategy has a 6% yield potential and covers for a rise up to 3437 till expiry Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:TCS
by indiamarketoutlook