TCS - Bearish Bat & Doji Candle at 2500- Target 2465-2430-2400
Bearish Bat at 2500. If TCS goes below 2490 - I shall be looking for target 2465-below 2465 for 2430 -below 2425 for 2400 & below 2400 -can be 2345.
Stoploss above 2516 ( 1 point above X- level)- In first place once it dips below 2490 - it should not bounce above 2500 which will early signal to be cautious in the trade else we enjoy 2465- 2430.
Candlestick Pattern- We have doji candle
What is a 'Doji'
Doji candlesticks look like a cross, inverted cross or plus sign. Alone, doji are neutral patterns that are also featured in a number of important patterns. A doji candlestick forms when open and close are virtually equal.
In our case open & close for current candle is 2496 so it qualifies for a doji candle.
When to execute the trade
As doji is a neutral pattern - we should wait for market to dip below 2492 - we will take 2490 as trigger point for targets mentioned above 2465- 2430 & below 2425 for 2400 & below 2400 for 2345.
If it bounces like a ball from 2425-2435 zone
Also, If TCS holds 2425-2435 - one can take long positions(buy) with stop loss below 2425 & target- 2465- 2500- 2525
Stoploss above 2516 ( 1 point above X- level)- In first place once it dips below 2490 - it should not bounce above 2500 which will early signal to be cautious in the trade else we enjoy 2465- 2430.
Candlestick Pattern- We have doji candle
What is a 'Doji'
Doji candlesticks look like a cross, inverted cross or plus sign. Alone, doji are neutral patterns that are also featured in a number of important patterns. A doji candlestick forms when open and close are virtually equal.
In our case open & close for current candle is 2496 so it qualifies for a doji candle.
When to execute the trade
As doji is a neutral pattern - we should wait for market to dip below 2492 - we will take 2490 as trigger point for targets mentioned above 2465- 2430 & below 2425 for 2400 & below 2400 for 2345.
If it bounces like a ball from 2425-2435 zone
Also, If TCS holds 2425-2435 - one can take long positions(buy) with stop loss below 2425 & target- 2465- 2500- 2525
Trade closed: stop reached
13:23 Hrs 24th July2017Last Price@2522
opened just below 2490 but could not hold below 2500 - which I suggested as sign of caution so likely trader could have exited the call with minimum 10 points stop.
Best Regards,
Abhishek H. Singh
SEBI Registered Research Analyst (INH000030092)
Founder - WaveTalks ( wavetalks.in)
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Abhishek H. Singh
SEBI Registered Research Analyst (INH000030092)
Founder - WaveTalks ( wavetalks.in)
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
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.
Best Regards,
Abhishek H. Singh
SEBI Registered Research Analyst (INH000030092)
Founder - WaveTalks ( wavetalks.in)
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Abhishek H. Singh
SEBI Registered Research Analyst (INH000030092)
Founder - WaveTalks ( wavetalks.in)
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
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.