Bullish Gartley Pattern in TCS - buy for target of 3400

22 Feb 2021

TCS had a good down move today. While the weekly trend was already in bearish mode and correction was long over due. continuous fall in the price without much of bounce was surprising to me for a share like TCS. On closer look, I think it is making a Bullish Gartley Pattern (XAB = 0.618, ABC =0.707, BCD = 1.414, XAD = .786). While 0.618 ratio is close by and XAD= 0.786 slightly overstretched, I think this is going to bounce from the PRZ 2950 - 2920 and break the high of 3325 to make it 1.27 (3400). Watch for the reversal with a stop loss of 2910.