THREE REASONS
- PIN UP BAR AT 200DMA
- CLOSE ABOVE 100 AND 200DMA NEXT DAY CONFIRMS REVERSAL
- STRONG SUPPORT AT THE LOWER RANGE OF THE TREND CHANNEL. (LT BULLISH TREND INTACT)
HIGH-RISK REWARD TRADE. MAINTAIN STOPLOSS AS IT RESULTS EXPECTED THIS WEEK
Like Infosys, TCS is searching for a new direction. Being one of the best IT servicing company, there has been lot of premium built up already and it is finding tough to crack 2800 mark. Last time we touched on TCS about a year ago, it was forming a double top near 2800. ( bombaybulls.com ) After that it tried to go there couple of more times but all efforts...
`THERE IS NICE PRICE ACTION IN THIS STOCK RSI ALSO OVERBOUGHT SO WE ARE GOING TO SELL DIS STOCK .ENTRY STOP LOSS AND TARGET GIVEN ON CHART.
IF YOU AGREE WITH MY VIEW THEN PLEASE HIT LIKE AND FOLLOW ME FOR MORE UPDATES AND IDEA'S..
TRADE WITH CARE
REGARDS
KING999
TCS is out of down trend channel formed on daily chart, price is moving up forming new swing highs and lows which is good sign.
In short trade one can book some profit around 2309, if price continue current short term up trend then one can hold the position till supply zone.
A perfect double top is formed in the resistance zone itself.
Q4 results are coming on Monday ( 18.04.2016), so keep a note of it and trade accordingly.
If all goes as our study , we are looking for 100pts downward move.
Trade Safe ! Happy Trading !
