TCS fut CMP 2321.6 Short for Target 2309- 2295- 2284- 2275- 226TCS fut CMP 2321.6 Short for Target 2309- 2295- 2284- 2275- 2260+
TCS1! trade ideas
#TCSTCS trading near weekly VWAP and VPOC of 2250. Stock is osillating between the value area of 2275-2245 since few days. Stock noticing selling pressure at higher levels near 2295.
Move from 2220 to 2295 happened with high volume but the following selling notices lower volume. Stock has broken out above the falling trendline (blue line). Last two days, gap up candles are being sold into and shorts are created. Once stock sustains above 2275 it can lead to short covering. As per the trend following setup, risk averse breakout players may wait for a breakout above first target of 2275 for confirmation of trend. Aggressive traders may enter long even near the 2250 levels with protection.
DarvasBox is forming higher highs. ADX is rising and trading near 20. Only thing what is missing is RSI > 60 for comfort for a long. Looks good to go long above 2275 for a target of 2300/2333/2365. SL 2230/2018 (red line). Once stock starts moving up, SL can be trailed. Or one may buy at the current levels too basis S/R play. And in case it breaks down below 2220 then it would confirm the trend reversal and would head southwards. View bullish.
