November 22, 2013

TATA Consultancy Services chart analysis


  • TCS Has closed below 50 Day SMA. Price is also trading below 23.6% fib level. So if the stock sustains below 50 SMA it could fall towards 38.2% Fib level at 1923.
  • Weekly bearish cross also makes the stock weak and may give bigger falls in the short term.
  • This bearish view will be negated if price starts to trade above 50 Day SMA.
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