Trade ideas
STRATEGY: RETEST - TCSTCS broke key level 3409. It perfectly retested the resistance level in triangle pattern. Now this can act as support.
Note: But volume is decreasing. The retest reversal will not be aggressive. It may be slower.
Buy @3530 to 3535 (when @3520 small support is broken.)
Stop loss @3370 (-4.37%)
Target @3887 (+10.5%)
RR: 2.33
Do You Buy after Good result in a stock? Must See this - TCS.STOCK MARKET MYTHS -
There are many misconceptions people have about how stock market works and how it actually works. In this series we burst these myths or clear misconceptions so people can make wiser decisions in trading/investing.
Myth Number 1- A stock will go up after good result.
Reality - A stock may fall big even after very good results. Taking decision based on this information give you no edge and you will loose over long term. Big market picture is always given highest priority and buying/selling decision should be taken on this.
Example - TCS , declared results on 8th October, 29% PAT, good results. Next day - instead of up move fall of 7%.
I too had this misconception earlier so please comment if you too thought same now or at some point of time. :)
Learn price action and trade wiser.
TCS Trend AnalysisTCS Noticed a hefty correction from its 52W high levels of 3989 after a strong rally and created and according to Fib levels, it's showing a bounce back from 3385 levels.
Additionally, it has been following its long-time support as displayed as the green trend line.
There seems to be a strong rally coming in IT stocks since they've corrected quite a bit. A good idea to buy on dips.
Please consult your financial advisor before making any decisions.















