TCS form Bearish Engulfing pattern at Imp Resistance Level
Hi Traders,
TCS form Bearish Engulfing pattern at imp Resistance Level (see chart) & Indicator also turn negative as well.
Bearish view due to below point:
1) TCS faced Resistance at Higher level 2260-2290. Got 4 times reverse from there.
2) TCS will major support at 2030 -2050 price range for good risk reward trade.
3) Big Bearish Engulfing candle form at daily chart .
4) Bearish Engulfing candle form with high volume more than 20 day average. See chart for more detail
What Indicator are saying:
1) RSI Earlier Break down mean more weakness . Bear will more control stock now. (See chart)
2) MACD Histogram bar start decreasing in size mean weakness. (See chart)
Happy Learning );
Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
TCS form Bearish Engulfing pattern at imp Resistance Level (see chart) & Indicator also turn negative as well.
Bearish view due to below point:
1) TCS faced Resistance at Higher level 2260-2290. Got 4 times reverse from there.
2) TCS will major support at 2030 -2050 price range for good risk reward trade.
3) Big Bearish Engulfing candle form at daily chart .
4) Bearish Engulfing candle form with high volume more than 20 day average. See chart for more detail
What Indicator are saying:
1) RSI Earlier Break down mean more weakness . Bear will more control stock now. (See chart)
2) MACD Histogram bar start decreasing in size mean weakness. (See chart)
Happy Learning );
Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
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