TCS at Confluence of Resistance / EMA / ST/ GAP/ AVWAP / FIB

30 Apr

Between 3500-3550, TCS could face strong resistance on multiple fronts and they are listed below.

Daily SuperTrend
GAP Zone
50 DEMA at 3540 (retesting it after a long time, expect a rejection)
Fib retracement of 61.8% of the recent swing
Avwap from the recent swing (at 3530)
100% (abc pullback) from the swing low (at 1498)

Daily chart with Harmonic pattern, suggests that one more low at 3000 odd levels is due. The same is being observed as per the EW counts

Here is the chart with possible path/count/target destinations



Finally, this is a first bounce after a sharp correction; expect first bounces to be sold in to, similarly, first dip will be bought in to.

In all likelihood, I am not expecting TCS to go up much from here.. expecting a meaningful decline before resuming the upmove.

Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.

7 Jul

Trade aktif

This view is still valid.. price hasnt moved past 3500 and have been consolidating in the sideways for almost 2 months now.. Price was forming a triangle for the 4th (while the initial expectation was an abc corrective rise



Bollinger Bands are squeezed very narrow and the spring burst can happen anytime.. The results are due on Thursday.. So, Hero Zero on both sides could provide decent returns

9 Jul

Catatan

TCS - Price has broken down from the triangle and now retesting the breakdown zone..

Results are due tomorrow.. Lets see how the price unfolds.. Awaiting the break of 3360-50 levels for confirmation

kemarin

Trading ditutup: target tercapai

TCS at 2960 and I am out..patterns at play