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TCS

Infy - Cup and Handle - waiting for breakoutReasons for the cup and handle to breakout: Infy - Cup and Handle - waiting for breakout Retest done at RBR candle in daily Huge possibility for gap filling Nasdaq has tested the current supply zone multiple times and ready for breakout TCS is in the clear up trend. Some short covering positions is holding the infy to breakout. Huge OI is formed at 1300 levels, so 1280, 1260 will see a short covering positions which is pulling the current selling. Today's close is above the RBR demand area which is a positive sign.
NSE:INFYLong
by trade_6699
Major Correction for Nifty ITNEGATIVE SIDE : 1. Nifty IT broke the major support level at 34450pts during the last trading session. 2. The two major rejection candle at the level 36750pts in the recent time is so crucial. This is because of the two major correction happened in the past one in 2000 and the other during the corona situation. Both the corrections have the 4.236 fibonacci level at around 36000pts. Which will play the major supply zone for the coming days for IT. 3. The Fibonacci level drawn in this chart shows the pullback happens exactly at 0.618 level, which is again a negative side. 4. The moving average 20 & 50 is getting closer. POSITIVE SIDE: 1. Currently, Nifty IT is at a major support level. Lets hope that it will bounce back from the level.
NSE:CNXITShort
by VigneshRaja-UthayaKumar
TCS Potential for Bullish Continuation | 21st February 2023Looking at the H4 chart, my overall bias for TCS is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Looking for a pullback buy entry at 3460.00, where the overlap support and 23.6% Fibonacci line is. Stop loss will be at 3163.65, where the recent swing low and 50% Fibonacci line is. Take profit will be at 4043.00, where the previous swing high is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
NSE:TCSLong
by Rockqet
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