TCS trade ideas
Bearish Corrective Trend in TCS Hi Traders
This is an good opportunity for both buyers and sellers. As price is corrective than sellers can short sell here for quick profit. Investors can wait for the correction as they will get the buy the stocks as much cheaper price.
Anyway as i said in the chart this is an corrective structure. Form the looks like it is an flat structure so its should fall to given price range and expect a bounce from that area.
Anyway in present scnerio look for sell side as this correction is surely going to take some weeks to finish it. See weekly chart for more clear understanding of degree.
Please do follow our charts with likes and comments. Let me know if you have anymore query
Thank You Everyone
* This is an weekly chart of TCS, in this you will sell an line near price 3000 which will work as a support for wave of D-4, It should not breach this level if it want to go up for wave D-5
* To learn how to read our neowave charts see below image
Simple Trade Setup | TCS | 13-04-2022 [INTRADAY]NSE:TCS
Observations:
1) On 1day time frame, we can see 3645 is immediate major support level.
And 3680-3700 is no trade zone. Above this zone it will be bullish and below this it will be bearish till 3645.
Breakdown of 3645 will lead it to more bearish.
Please refer below chart : 1day time frame.
2) On 1hr time frame, it is forming head and shoulder pattern, which is a bearish pattern.
Neckline we can consider at 3645 level only.
If this pattern gets active then we can see fall only on 3645 level breakdown.
But sometimes, pattern fails.
Please refer below chart : 1hr time frame.
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Trade Setup for 13-04-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
This is only for Intraday.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
TCSNSE:TCS
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Stock recently broke its resistance of 3715 levels
Buy at CMP for Short term target of 3765/3825
Its a portfolio stock, so can be kept for long term also.
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Note:
Above levels are for education purposes only
Do your own analysis before taking any trade