Keep track of TCS as it may provide good positional trade opportunity.
Points to consider: 1. TCS is still in an uptrend considering Higher Highs and Higher Lows structure. 2. Double Top (indicated with black line) looks matter of concern. It will be selected as target. 3. SL, Entry and Target will be posted afterwards. 4. Trade will be cancelled if met with un-favorable risk-reward scenario.
Disclaimer: The views expressed in this article is of my own and you're solely responsible for any decision taken in the markets. The analysis I've shared is just for informational and educational purposes.
Order cancelled
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No suitable opportunity found.
Comment
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I expect anyone who is reading my writings to know that there is nothing "certain" in the markets. Neither the %gain on stock nor "out-performance" or "under-performance". There is a risk and opportunity cost involved in both, buying and selling. Selling at any price can often result in "opportunity loss" when the stock moves higher and higher. Human psychology is a culprit here. For e.g. I post any stock which seems undervalued or overvalued to me on tradingview. When anyone makes money on that, they wont appreciate me "a single word". But when they lose or it results in opportunity loss, they are bound to blame me. I don't criticize any person, because I know their psychology has defeated them. At last, there is nothing like "easy money" in the markets. The survival of the fittest holds absolutely true here.
@kandaswamyp, First of all you need to know why any company offer buybacks. One of the reasons is, the company can not figure out new avenues to invest their surplus cash. So they offer buybacks. Companies like TCS, Apple, Berkshire, etc have been engaged in buybacks recently. What is evident in these companies is they are not seeing any good opportunity to invest in "in near term". If you were asking whether to participate in this, I would have said Yes.