TCS - Price Action Analysis NSE:TCS is soon to Fill-up their gap but there is a plot.
As you can see the previous day was created as shooting star candle which indicate sellers would not allow to go price further and also you can see it has touched 61.8% of Fibonacci level at 3757. So both scenario strongly says that price could take reversal.
But any Gap up above 3557 leads price up to 3800 and any gap down below previous day candle leads price to 3615.
BUY : Buy above 3557 or wait till if price corrects up to S1 (3614-3641)
SELL : short trade might not recommended but if any support breaks you can take it or you can play reversal at resistance after confirmation candle occurs.
TCS trade ideas
TATA Consultancy (TCS) May Fall, It can be Shorted 24/02/2021 Tata Consultancy Services Limited (TCS) is engaged in providing information technology (IT) services, digital and business solutions. The Company's segments include banking, finance and insurance services (BFSI); manufacturing; retail and consumer packaged goods (CPG); telecom, media and entertainment, and others, such as energy, resources and utilities, hi-tech, life science and healthcare, s-Governance, travel, transportation and hospitality, and other products. Its services portfolio consists of IT and assurance services, business intelligence and performance management, business process services, cloud services, connected marketing solutions, consulting, engineering and industrial services, enterprise solutions, IT infrastructure services, mobility products and services and platform solutions. Its software offerings include Digital Software and Solutions, TCS BaNCS and TCS MasterCraft, among others. It serves industries, including insurance, healthcare, retail, telecom and others.
Technical:
as we can see the price was in a bullish channel and it has now broken the lower boundary of the same channel
there exist bearish Divergence with MACD and MACD Histogram which is the sign of trend reversal and we can be sure after some candle confirmation that this Ticker is going to fall if the Channel break is confirmed by some candle pattern.
as of now we can have an eye on it for shorting it after some confirmation
TCS - Change of polarityTCS weekly chart shows breakout retest done & 5-6 weeks base created around support zone. Double bottom pattern with neckline breakout above 3577 last week seen. Need to see a follow-up buying and increase in relative strength, this week to confirm reversal for uptrend towards ATH levels.
Only for educational purposes. Not a buy/sell recommendation.
TCSNSE:TCS
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TCS SHORT-TERM SWING TRADE!TCS short-term swing trade consider buy above 3,535 Targets 3,595 & 3,655 Stoploss 3,480
LOGIC BEHIND TRADE : Price structure going upside & stock bounced from it`s previous resistance looks good for short term swing trade, to identify i use harmonic xabcd pattern level 0.886 PRICE (3,655).
NSE:TCS