TCS
TCS looks weak. A short swing opportunity.At CMP TCS is overvalued. The weekly structure looks weak and shows a failed double bottom structure at 38.2% Fib level. This is indicative of a fall in TCS prices. Target is the 61.8% Fib level which also coincides with the weekly trend line. This is the major support level from which TCS may resume an uptrend post 31st March 2019
TATA CONSULTANCY SERVICES SHARE HOLDERS SHOULD KNOW THIS!the chart is self explanatory
i know many Indians with family and kids are holding their life savings in this stock
please read this and see the obvious bear in the room
DISCLAIMER - i don't have any TCS shares..... so hopefully this analysis is emotionally uncompromising
Short TCS after reversing from Upper trend lineTCS is trading in channel.
Previously, before making up move, stock had taken support at 200 SMA.
So, stock may touch 200 SMA again, before making up move.
Good shorting opportunity at upper trend line. R:R ratio is favorable.
Views invalid, if stock closes above trend line.
TCS Fib Model$TCS fib model put together on multiple time frames. If the model is accurate TCS should see some price movement tomorrow as it approaches quadrant intersections. No position.
Long @ 2407Strategy: Buy @ 2407
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TCS was on uptrend and correcting it's uptrend after hitting 2700 resistance zone. Correction was on running flat correction which was supposed to be completed below 2100 levels. Post 2100 support reach, script was able to jump and tested 2550, We are calling it's five wave impulse move in nested manner. 2407 can provide good support level here to go long.
Long for ATH above 13000Nifty IT is following the textbook EW pattern. We are at the beginning of a fresh impulse of the last cycle wave 5. This wave should take us to all time highs.
On smaller time frame we have already finished wave 1 of 5; obviously the next impulse (w3) would be much sharper.
Index is susceptible to political news from US, so adhere to proper RM.