TCS
TCS@3306 Make or Break LevelTCS is making higher lows and is trading at High with rising rounding pattern which looks good, but current price is more than the intrinsic value. Therefore it's suggested to wait till it corrects to S2 levels as specified on the charts.
If there is breakout with volumes then wait for to get price @3306 or if you are looking to enter at current price then invest 25% of the capital and further can invest accordingly at the dips .
Fundamentally very strong stock. Any correction is buy opprtunity
PIVOT LEVELS
R1 R2 R3 PP S1 S2 S3
Classic 3,345.20 3,393.10 3,428.20 3,310.10 3,262.20 3,227.10 3,179.20
Bullish Momentum - Above Short, Medium and Long Term Moving Averages
1.83% away from 52 week high
Outperformer - Tata Consultancy Services up by 6.75% v/s NIFTY 50 up by 3.81% in last 1 month
F&O data suggests Long Unwinding today
Disclaimer:
The views provided solely for information purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. The information presented is for general information purposes only. Although every attempt has been made to assure accuracy, I assume no responsibility for errors or omissions
TCS - Bullish trend (Intraday - 19/4)Positive Side :
1. Formation of Cup & Handle pattern. Indication for a bull run.
2. The same cup & handle pattern follows for Nifty IT, which gives an additional support for a bullish run for the entire IT stocks.
3. Can expect a huge return, if the market support the uptrend.
Negative Side :
1. Last two monday trading sessions turned out to be a disaster in the market. So, if it follows, IT stocks too can fall along with it. So recommended to keep 20pts below the trendline breakout.
Short Term Cash Buy TCS @3153.00-3156 SL 3101 TGT 3240It broke 3124(R1) and now about to break 3168(R2).
MACD cross at 3122, RSI indicates more upside.
TK cross over at 3088 on hourly chart.
Ichimoku cloud break out at 3101 and look set for getting close to nest resistance 3256 which is close to our TGT.
Trading Idea - #TCS Group HoldingSHORT
ENTRY: 47.70 EUR
TARGET1: 42.50 EUR (+10%)
TARGET2: 36.60 EUR (+23%)
STOP: 53.43 EUR
1.) TCS is losing momentum. Couldn't break the 53.00 EUR resistance line!
2.) after a strong upward trend with 2 significant impulses, I expect a 2-step correction. See above TARGET 1 and TARGET 2!
3.) The main business of TCS Group Holding is private customer banking within the Russian Federation, which is handled by Tinkoff Bank. TCS is a provider of online financial services for private customers via its own platform. TCS Bank specializes in credit cards and online consumer credit in Russia.
4.) TCS announces a massive buyback of shares by August 2021. The necessary expenditures could force the share into the correction in the medium term.