TCS is one GEM of stock which has survived the global pandemic scenario pretty well and have been able to recover its 32 % fall during lockdown and come back start again on Square one. On An intraday Levels , TCS is currently at its peak and has been trying to go above the mark 2290 for last one year but all in Vain. TCS has reported loss for this quarter because of the on-going pandemic so the probability of it breaking the resistance of 2290 and making new High is still sleak. On 13th the probability is high for it to test the 50% Fib levels once again @ 2189 and then it would be a make or break situation . But Currently I am bearish on 13th For TCS but currently it has made a higher Wedge pattern so it should probably go upto 2240 to test the levels again and then break down the wedge to come down and test 2189. I would keep my target @ 2201.
Trade closed: target reached:
Sell @ 2231
Buy @ 2221
Short
Buy @ 2221
Short