TCS - Medium Term View

19th Mar

Today TCS confirmed corrective move ahead by breaking support line.

UPDATE
Week of 10th Mar

Completed Wave A and B.
Now on the Wave C superfast mode.
Targets as shown in the chart.
Note: CNXIT is in the corrective cycle and this one going up?

UPDATE
Week of 3rd Mar

#TCS Heading for 2277
— EWite (@Stocktechy) February 28, 2014

#TCS pic.twitter.com/eUBUiqSky4
— EWite (@Stocktechy) February 28, 2014

UPDATE
21st Feb

Click on the chart for details.

20th Feb
No. TCS does not want to do full correction. Turned up from just 38.2 level. Extra bullishness on display.
Now we look for 2247 on the upside next.

19th Feb
Having deciphered major move let us track moves of TCS on extreme short term and understand exact target where finally this stock wants to go.
TCS has completed its 1st wave in an impulse(5 sub waves).
So it should now correct and make Wave 2 moves.
Likely targets for wave 2 are 2139 and 2127.
We would wait and confirm this move.

Here is the hourly chart.

TCS is moving in a channel and has turned up from the lower channel support line. There is good delivery based buying around the support zone confirming the end of down move.
Looks heading for channel upper line resistance.
Target > 2500
Stop   < 2085