Tcs Elliot Wave Analysis target 4200
Elliott Wave Count:
The chart seems to show a detailed Elliott Wave count, indicating both impulsive (labeled 1, 2, 3, 4, 5) and corrective (labeled A, B, C) waves.
The current wave count suggests the start of a new impulsive wave, with the expectation of further upward movement.
Target and Stop Loss:
The target price is set at 4200.
The suggested stop loss level is 3800.
Corrections:
A 62% correction of the previous trend is marked, which often signifies a strong retracement level in Elliott Wave theory.
Indicators:
The chart includes volume bars, a relative strength index (RSI) at the bottom, and what seems to be a Moving Average Convergence Divergence (MACD) indicator.
These indicators are typically used to confirm the wave counts and the momentum of the stock.
Moving Averages:
The chart shows moving averages (dotted lines) which can act as support or resistance levels.
This analysis suggests a bullish outlook for TCS shares, projecting a move towards 4200, provided the price remains above the stop loss level of 3800. The chart analysis leverages technical indicators and wave theory to forecast potential price movements.
The chart seems to show a detailed Elliott Wave count, indicating both impulsive (labeled 1, 2, 3, 4, 5) and corrective (labeled A, B, C) waves.
The current wave count suggests the start of a new impulsive wave, with the expectation of further upward movement.
Target and Stop Loss:
The target price is set at 4200.
The suggested stop loss level is 3800.
Corrections:
A 62% correction of the previous trend is marked, which often signifies a strong retracement level in Elliott Wave theory.
Indicators:
The chart includes volume bars, a relative strength index (RSI) at the bottom, and what seems to be a Moving Average Convergence Divergence (MACD) indicator.
These indicators are typically used to confirm the wave counts and the momentum of the stock.
Moving Averages:
The chart shows moving averages (dotted lines) which can act as support or resistance levels.
This analysis suggests a bullish outlook for TCS shares, projecting a move towards 4200, provided the price remains above the stop loss level of 3800. The chart analysis leverages technical indicators and wave theory to forecast potential price movements.
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crypto channel t.me/HarishRao9911
Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ FREE Telegram Channel 👉 t.me/HarishRao99
crypto channel t.me/HarishRao9911
Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research
crypto channel t.me/HarishRao9911
Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.