TCS - bullish trade
Technical analysis -
Nothing much to mention about the chart, few points -
1. Stock price is on decline post results, and not yet participated in IT stocks rally
2. Stock will give a small breakout above 3250 on closing basis
3. Expectation is to touch previous high and even hit a new high
Trade set up -
1. Go long above 3250 on closing basis
2. SL below 3130 on closing basis, a small SL could be below 3170 on closing basis. I would prefer 3130 but it depends on individual risk appetite
3. Initial targets are 3350 and 3390, followed by new life time high
Nothing much to mention about the chart, few points -
1. Stock price is on decline post results, and not yet participated in IT stocks rally
2. Stock will give a small breakout above 3250 on closing basis
3. Expectation is to touch previous high and even hit a new high
Trade set up -
1. Go long above 3250 on closing basis
2. SL below 3130 on closing basis, a small SL could be below 3170 on closing basis. I would prefer 3130 but it depends on individual risk appetite
3. Initial targets are 3350 and 3390, followed by new life time high
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