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Arun_000

TCS - CHANNEL BREAKOUT - BULLISH

TATA CONSULTANCY S (NSE:TCS)  
Arun_000 Atualizado   
NSE:TCS   TATA CONSULTANCY S
Support and Resistance Multiple Time Frame Analysis Parallel Channel TCS LONG Bullish Patterns VSA priceaction retracement
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supportandresistance mtfa parallelchannel tcs long bullish vsa priceaction retracement
TCS

  • ON DAILY CHART HIGHER HIGH FORMATION IS CLEARLY VISIBLE & ALSO VOLUME IS ON HIGHER SIDE WHEN PRICE IS MOVING UP
  • SUPPLY CAME IN ON 8TH OCTOBER WITH EXTREMELY HIGH VOLUME FOLLOWED BY SErIES OF WIDE RANGE BEARISH CANDLE.BUT VOLUME IS RELATIVELY LOW SUGGESTING IT MIGHT BE A RETRACEMENT
  • ON 15 MIN CHART,LOWER LOW STRUCTURE WHICH FORMED OVERS PAST TWO WKS HAS BEEN BROKEN AND STARTING TO FORM HIGHER HIGH STRUCTURE BUT WE NEED VOLUME CONFIRMATION.
  • ALSO FORMED A CHANNEL AND PRICE IS CURRENTLY TRADING NEAR CHANNEL TOP WHICH ACTS AS RESISTANCE
  • IF PRICE BREAKS ABOVE CHANNEL TOP (RESISTANCE) WITH VOLUME EXPANSION,PRICE MIGHT MOVE TO NEXT RESISTANCE ZONE (2955-2980),WHERE PRICE MIGHT TEST THAT RESISTANCE LEVEL
Comentário:
Price breakout happened on the back of very low volume.so not valid break out.
Aviso legal

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