Simple Trade Setup | TCS | 13-12-2021 [ INTRADAY ]NSE:TCS
Observations:
1) On 1day time frame, we can see that it took support from 50DMA and bounce from it.
50DMA is placed at 3581.36
Also interensting point is that most of all the major simple moving averange are in range of 3575-3585 level range.
We can say that 3575-3585 is major support range.
Please refer below chart : 1day Time Frame.
2)Also on 1 day time frame, we can see that it made perfect dubble bottom pattern and gave breakout of it and also took support from the breakout neck line of double bottom pattern.
Now major breakout level range is 3650-3660 level range. Sustainable breakout of this range will make it bullish.
Please refer below chart : 1day Time Frame.
3) On 15min time frame we can see that it is having support trendline.
Please refer below chart : 15 min Time Frame.
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Trade Setup for Date: 13-12-2021
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.
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.
TCS trade ideas
** Trading Idea in TCS **** Trade Plan **
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Setup :> Here there is a Pennant Pattern Forming . So be a Positional Trader in the stock.
Entry :> Should be done on the Closest or on the lower trendline . Price Range in the chart above.
Exit/ Target :> Possibly the nearest Support shown in the chart.
Stoploss :> Stoploss should be kept just above the upper tredline .
Risk : Reward. :> Very Good (1:3)
Position Sizing & Instrument to use :> Depends on the capital and BUY in the Cash Segment i mean equity only.
The Trade :> The Stock is looking to make an upside on an intraday chart of 5 mins. Our Task is to buy the stock as near as possible to the support zone .
TCS 100% Profit Trade🤑#we will make only profit.
1st Today starting 45 min market Go up than its a strong chance we can achieve 2 Target but if any Bad News came than TCS achieve 1 Target .
2nd If you know Price action than se its a breakout But Not confirm Now.
3rd Today will be Clear we go up or Down.
4th All MACD try to be Enter in a bearish Zone.
5th stop loss jetna aap dene ko Ready ho
6th Play safe in Market There is No Guaranty in NOV<DEC<JAN Because Market Crash Any Time With Small Useless NEWS
#If you need any help comment or message me.
Swing Opportunity in TCSGo Long above 3548.1 for Targets of 3660.2, 3772.3, 3884.4, and 8880.5 with SL 3436
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.5 Fibonacci level.
3. Also there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
4. In addition to this there is a gap which the stock may try to fill.