Description: This daily chart of Tata Consultancy Services Ltd. (TCS) reflects a potential bullish setup driven by expected positive outcomes from Nvidia's results, which may have a broader impact on the Indian IT sector.
Entry: ₹4,506.85
Stop Loss: ₹4,423.60
Target: ₹4,785.10
Key Insights:
Nvidia Results Impact: Nvidia's strong performance could lead to positive sentiment across the IT sector, including TCS.
Order Flow Analysis: Indicates strong buying pressure.
Volume Dryout: A slight decrease in volume could be a sign of consolidation before a potential breakout.
Technical Analysis: The chart shows a possible bullish continuation pattern with a target at ₹4,785.10. The price is currently testing a support level around ₹4,506.85, and a positive outcome from Nvidia could act as a catalyst for upward momentum in TCS.
Key Levels:
Support: ₹4,506.85
Stop Loss: ₹4,423.60
Target: ₹4,785.10
Analysis: Traders should monitor the broader IT sector and Nvidia's results, as these could influence TCS's price action. The current setup favors a long position, with a clear stop loss to manage risk.
Entry: ₹4,506.85
Stop Loss: ₹4,423.60
Target: ₹4,785.10
Key Insights:
Nvidia Results Impact: Nvidia's strong performance could lead to positive sentiment across the IT sector, including TCS.
Order Flow Analysis: Indicates strong buying pressure.
Volume Dryout: A slight decrease in volume could be a sign of consolidation before a potential breakout.
Technical Analysis: The chart shows a possible bullish continuation pattern with a target at ₹4,785.10. The price is currently testing a support level around ₹4,506.85, and a positive outcome from Nvidia could act as a catalyst for upward momentum in TCS.
Key Levels:
Support: ₹4,506.85
Stop Loss: ₹4,423.60
Target: ₹4,785.10
Analysis: Traders should monitor the broader IT sector and Nvidia's results, as these could influence TCS's price action. The current setup favors a long position, with a clear stop loss to manage risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.