TCS trade ideas
TCS Levels & Targets - Technical analysisHey Guys,
TCS is Market leader in its sector, A very strong fundamental and management.
Recommended for long term. Very good dividend yield.
RSI: Whenever RSI shows stock is overbought the price suffer rejection from to top levels.
EMA: 200EMA looks like very strong support, price has taken support so many times in past.
Bollinger Band: price faces resistance @ Upper band and takes support on Lower band.
Strong Resistance: Current price zone is a strong resistance for the stock price.
Trendline: reduce quantity @ breakout of bottom trend line. Upper trend line can act as resistance.
Volume:
MACD: on the verge of bearish crossover. Histogram showing green bars going down.
Support & resistance:
Please share your Thoughts in comments.
let me know if you have any questions,
Thanks.
TCS - Story of the Bear in Making for 13th JulyTCS is one GEM of stock which has survived the global pandemic scenario pretty well and have been able to recover its 32 % fall during lockdown and come back start again on Square one. On An intraday Levels , TCS is currently at its peak and has been trying to go above the mark 2290 for last one year but all in Vain. TCS has reported loss for this quarter because of the on-going pandemic so the probability of it breaking the resistance of 2290 and making new High is still sleak. On 13th the probability is high for it to test the 50% Fib levels once again @ 2189 and then it would be a make or break situation . But Currently I am bearish on 13th For TCS but currently it has made a higher Wedge pattern so it should probably go upto 2240 to test the levels again and then break down the wedge to come down and test 2189. I would keep my target @ 2201.