TCS trade ideas
TCS Swing Trading Important supports For Educational purposeTCS is at important support level wait for price action near support zone.
If tomorrow open below 3000 then support will become resistance so we will ignore that and will wait near support 2.
Important: Never take trade without setup.
Always trade with risk and reward.
Never average loosing trades.
TCS - Looking very weak - quick ideaTCS result was less than estimated!
TCS is fundamentally strong company but IT is looking weak for now (11/07/2022). TCS is moving in a channel.
It has support at 3135, it should take pull back from there today (11th July 2022) and then should fall back after retracement. Next support is 3008 and I believe breakdown of 3135 will take it to 3008 which is also channel bottom. It should strongly bounce from there.
Just in case if there is global IT sell of and it breaks channel then it could hit 2880 which is a strong support. I don't think it'll break this unless global sentiments are too negative.
S1 - 3125
S2 - 3008
S3 - 2880
Play Safe! Keep SL in the system!
**Just for education purpose! Do you own analysis**
TCS Intraday ViewLong above 3166, Keep trailing profits as per the resistances mentioned. SL - 3120
Short Below 3128, Keep trailing profits as the supports mentioned. SL - 3170
One can also do scalping with the help of support and resistances mentioned.
NOTE: Please wait for the market to settle down once it opens. Don't just jump into any trade without understanding the trend
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