Based on the 2 BB strategy, its time to go long on the stock. Keep SL as last swing low.
The POC support is already breached and there seems to be no signs of reversal near the second support, The seeling volumes have just gone higher in the smaller TFs. Only a major positive news can bring the price back up.
There is a niche concept of consolidation and breakout going on at the moment, making the strengh stronger than ever. Definite buy for a medium term holding. Keep SL as the last upper channel of last breakout.
There seems to be good chances of a trend reversal from here. Immediate SL of 5000 should be kept in system. A good lead might be possible.
Watch out the beauty of the stock. It comes down with less volumes and blasts out with heavy volumes. Expecting a good up move in the stock in the coming weeks.
Lets just hope that TCS should not be the reason to bring NiftyIT down. It did began an upmove from the demand zone yesterday, however the trend is negated today. Pretty much all indicators are bearish. #stocks
See how the stock takes a good support of the 50EMA. The recent pullback was weak. The current demand is strong. Good up trend upcoming.
Shorting the stock has started to look more favourable as RSI is trending down. Any cross below the current POC will invite a bear attack!! Stock under extreme consolidation.
Since only 30% of the volumes are traded in the current region, the chances of a bull move are quite high. Note that the bear volumes are significantly less, while bringing the price down. Hoping for an up side here.