TCS looks trending down to 2900-2950 levels where it had taken support twice earlier. 200WMA along with AVWAP from COVID lows will act as a strong barrier. A closing below this region will take this stock to a gap area of 2550-2600. Below this there is a strong support at 2300 levels. Looking at the kind of events who knows we may see this mouthwatering level....
There is a possible breakdown of H & S pattern in coming weeks unless it gives a closing above 3300 on WCB. Pattern target is 2300 - 2400 levels which is also a confluence of 200 WMA and AVWAP drawn from Oct 2018 lows. Target levels were tested twice earlier in Jan and May 2022.
Confluence of AVWAP drawn from March 2020 lows, 200 WMA and previous swing low made in June 2022 provides a strong support at 2500- 2550 levels. Breach of these levels gives a pattern target is 1500 levels. If the stock is able to hold 2500 level then we may expect sideways movement till either side is taken out convincingly.
Bajaj finance has broken long term trendline drawn right from 2008-2009 lows. It is close to its 200 WMA of around 5250. AVWAP from 2020 lows gives an objective of 4500 levels. If 4500 levels are breached, then next objective will be 2900-3000 levels which is given by AVWAP drawn from 2008-2009 lows and the same was respected during March 2020 lows. Can it get...
Looks good for buying as big support near 1800-1900 levels. 200WMA and AVWAP from March 2020 lows can provide a good support and May bounce back. View invalid below 1800 weekly closing basis.
