TCS Finally Breaking Its Downtrend? ₹2,350 Is The First Test
TCS :— DOWNTREND BREAKOUT WATCH
TCS has been under pressure for quite some time, forming lower highs beneath a falling resistance trendline.
But now, price is attempting to break above that trendline, and the recent volume expansion makes this move worth watching.
I’m not calling it a confirmed long term reversal yet. The next important thing is to see whether TCS can hold the breakout zone on a retest.
WHY THIS SETUP IS INTERESTING 👀
MY VIEW
I don’t want to chase a sharp candle. I’d rather watch how price behaves around ₹2,220–2,235.
If TCS holds above the breakout zone and buying continues, the upside levels come into focus. If price falls back below the trendline, the breakout attempt could fail.
Breakout is one thing. Holding the breakout is what matters.
What do you think, is TCS ready for a trend reversal, or does it still need more confirmation?
Share your view below in comment box. 👇
Disclaimer: This is a technical analysis for educational purposes only, not a buy/sell recommendation. Always manage position size and risk before entering a trade.
TCS has been under pressure for quite some time, forming lower highs beneath a falling resistance trendline.
But now, price is attempting to break above that trendline, and the recent volume expansion makes this move worth watching.
I’m not calling it a confirmed long term reversal yet. The next important thing is to see whether TCS can hold the breakout zone on a retest.
WHY THIS SETUP IS INTERESTING 👀
- Price is challenging a falling resistance that has capped previous rallies.
- The latest move is supported by a noticeable increase in volume.
- A successful retest of the breakout zone could strengthen the bullish structure.
- ₹2,350 is the first important resistance to watch. Beyond that, ₹2,450 and ₹2,550 are the next levels on the chart.
MY VIEW
I don’t want to chase a sharp candle. I’d rather watch how price behaves around ₹2,220–2,235.
If TCS holds above the breakout zone and buying continues, the upside levels come into focus. If price falls back below the trendline, the breakout attempt could fail.
Breakout is one thing. Holding the breakout is what matters.
What do you think, is TCS ready for a trend reversal, or does it still need more confirmation?
Share your view below in comment box. 👇
Disclaimer: This is a technical analysis for educational purposes only, not a buy/sell recommendation. Always manage position size and risk before entering a trade.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.