January 17, 2012

TCS Charts before quarterly results

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  • TCS is trading below its trend line in daily chart.
  • Price is showing a GAP between 1115 - 1133.
  • daily chart is showing a bullish engulfing pattern.
  • Volume analysis shows bigger volume for the sell candle then the bullish engulfing pattern.
  • TCS will show weakness on closing below 1050 as shown in weekly chart.
  • There is an island reversal opportunity in daily chart. Price need to trade above 1133 with good volumes for a sustained up move to happen.


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