The daily and weekly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength The above analysis indicate an up side of 3500-3900 levels
Break (Price above all moving averages) or Retrace scenario(divergence-RSI to price, decreased volume) Building Up in TCS. Coming Week will Tell. HCL, INFY showing similar sign
- TCS made Ascending Triangle Pattern on a hourly chart.
- Strong Resistance at 3360.
- There is high possibility that in the next 1-2 months it will breakout and create an ATH.
Take Entries above 3401.70
SL @ 3345 - 3347
Targets are mentioned on Chart with the Risk Reward of 1:6.8
Trail your Stop Loss
Make entries only when the price action is suitable respecting to the trendline
Take Entries when Market sustains above our levels
Take Entries as per Price Action
** Only for Educational Purposes
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Check chart for details..
SL = 3260
I have used previous price upswing to overlap the current and predict a best case scenario..
As we know best case scenarios are rare..So take the prediction with a grain of salt.. It is possible price may move slower than predicted here.
Any comments, likes, criticisms and constructive feedback are highly appreciated. I...
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Chart Type: Triangle pattern Breakout and sustained purely above it with a good bullish candle + ACtivation of a swing trade with given SL might be a good setup
✺--------------------------- Motivational and psychological area ✺
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NSE:TCS TCS seems bullish after more than 6 month price consolidation below 3356 now after forming double bottom pattern in daily timeframe its seems bullish for intermediate term..also prime staying above 50 SMA for month..so according this duoble bottom pattern it may go up. buy above 3400..stoploss 3245 n target 3700 for near term...risk reward around 1:1.8
*...
look tcs breaks the resistance with a big bullish candle with good volumes yesterday and also today it forms a spinning top (indecision candle) ,so if tomorrow forms a bullish candle then go for long for swing traders. or wait for pullback then invest.
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Break Out pattern observed in TCS, along with the following fundamental supports:
Large delivery volumes for the past month, which has only been increasing on a weekly basis
Expected great returns from the IT industry, and the earnings are expected to be announced on Jul 8
Higher proportion of Puts written and Significant number of Puts being written close...
TCS has given a break-out on the daily chart with good volumes to the trendline after facing resistance at this level twice and support of Fibo @ 0.50 levels If not bought yet, can buy @ CMP with targets of at least 3400+ with SL 3230. IT sector is performing well and TCS is one of the big players in Nifty IT.
