Pattern formation in TCSNSE:TCS
*Trade Confirmations*
○ Stock has fallen 7% from its 52 week high
○ Breakout with good volume
○ About to retest the trendline
○ May even form ascending triangle in some time.
○ Good company by fundamentals.
*Trade Setup*
○ Target - 3300
○ Stop loss - 3040
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TCS trade ideas
TCS Outlook - June 2021 PredictionTCS looks poised to breach the upper resistance zone and breakout to reach new All Time High. 3217.2 acts as a strong supply zone and the uptrend also has a good volume support to keep the momentum intact for TCS to scale new highs. Go Long for T1 - 3360, T2 - 3400, T3 - 3450 and T4 - 3500 with trailing stop loss of 10 Rs. Trade wise and safe.
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.