TCS

TCS 30 MIN TF

TCS seems to have hit the roadblock at 1250. On EOD basis it has seen a sharp fall at 1250 in the second attempt, a break below the TL will see more fall and may trigger bigger fall as the Weekly charts show -ve divergence closing below 1032 could Target 966 > 899 > 817. The above view holds until it closes convincingly above 1250.

TCS EOD

Short term charts {30 min} in fact shows it to be in a range and any move above 1245 or below 1140 can confirm the direction.

Action: Short immediate with SL above 1250 on closing basis. Or wait for break of TL on EOD charts which is somewhere close to 1150

CMP:  1192.1


Happy Trading !
SHEKHAR

TCS WEEKLY

HAPPY RAM NAVAMI !

Dragons in the Market !

Here is a pattern that was recognized some time ago. The thing about it is that it clearly identifies elements of support and resistance. This pattern identifies short term reversals in the trend which are very tradable.

If you look at the first chart which labels the key elements. The Back will always rise to test the Bottom of the tail-hook (support/resistance). After the second leg is in place you can buy the breakout of the Back price.

Now here is an interesting point that breakout will rise to the level of the top of the tail (support/resistance). If the bottom of the head does not come down and violate the top of the back we have a high probability of continuation.

Check this out for yourself before trading this setup.

Happy Trading !
RainMaker

Enjoy the coffee instead…….

A group of alumni, highly established in their careers, got together to visit their old university professor.

Conversation soon turned into complaints about stress in work and life.

Offering his guests coffee, the professor went to the kitchen and returned with a large pot of coffee and an assortment of cups porcelain, plastic, glass, crystal, some plain looking, some expensive, some exquisite - telling them to help themselves to hot coffee.

When all the students had a cup of coffee in hand, the professor said: 'If you noticed, all the nice looking expensive cups were taken up, leaving behind the plain and cheap ones.. While it is but normal for you to want only the best for yourselves, that is the source of your problems and stress. What all of you really wanted was coffee, not the cup, but you consciously went for the best cups and were eyeing each other's cups.

Now if life is coffee, then the jobs, money and position in society are the cups. They are just tools to hold and contain Life, but the quality of Life doesn't change. Some times, by concentrating only on the cup, we fail to enjoy the coffee in it.'

Don't let the cups drive you.. Enjoy the coffee instead…….