TCS
TCS looks weak. Today corrected almost 1.75%.
Stock broke down the short term trend line and corrected. Stock found support at its 200 DEMA.
Watch for tomorrow. If stock breaches 200 DEMA then stock may see the levels of 1358/1305.
So short the stock if it breaches 200 DEMA and wait with patience to see the levels of 1358/1300.1300 seems to be long term trend line support.
Pull back till 1435 can also be used as good shorting opportunity if you can take risk with SL at 1466.
TCS looks weak. Today corrected almost 1.75%.
Stock broke down the short term trend line and corrected. Stock found support at its 200 DEMA.
Watch for tomorrow. If stock breaches 200 DEMA then stock may see the levels of 1358/1305.
So short the stock if it breaches 200 DEMA and wait with patience to see the levels of 1358/1300.1300 seems to be long term trend line support.
Pull back till 1435 can also be used as good shorting opportunity if you can take risk with SL at 1466.
We have been short side on the stock everyday and booking part profits. yesterday by EOD stock have closed below its 200 DEMA showing some weakness in the stock price for which we continued our short positions. But today in second hour stock hit our trailing SL 1412, where we reversed our positions towards long on the stock.Stock is able to close above 12 DEMA but faced some resistance at 34 DEMA. Will see tomorrow how it reacts and make decision either to continue to be long or again to go short on the stock.
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