TCS trade ideas
TCS Potential for Bullish Continuation | 21st February 2023Looking at the H4 chart, my overall bias for TCS is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market.
Looking for a pullback buy entry at 3460.00, where the overlap support and 23.6% Fibonacci line is. Stop loss will be at 3163.65, where the recent swing low and 50% Fibonacci line is.
Take profit will be at 4043.00, where the previous swing high is.
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Intraday Long Opportunity in TCS.Long Opportunity in TCS for an intraday trade.
Reasons:
1. Breakout/Price sustaining above psychological level of 3500 will be a positive sign.
2. 200 EMA Support
3. NASDAQ currently at it's 200 EMA support on daily timeframe and should take a healthy bounce from here
NSE:TCS
TCSNSE:TCS
In case of Gap down , pls ignore.
Risky Trade ! So don't bet a lot.
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose!
TCSTCS CMP 3427
looking at the structure ,
I get the sense that TCS is still in corrective phase...
from here it can go to flat/triangle/normal zigzag ..
since all possiblities are open..
not thinking of targets
but would keep a tight sl if I am on buyside
Just a View
Vedang :)
Chart is for study purpose only
TCS near breakoutTCS after making Head and Shoulder pattern last year is now ready wih inv. head and shoulder.
if we observe weekly charts 3350-3450 is a hurdle, above it would be a breakout which may take it towards 3600 levels.
we can draw fibo for particular targets.
RSI and moving averages are positive.
take 3300 as sl if needed otherwise take it in portfolio for longer term.
Dis - just for learning not a recommendation.