In a daily time frame, TCS was observed in Falling Wedge Pattern Structure and Breakout also has done
The falling wedge is a bullish price pattern that represents a story about the market in which bulls are preparing for another push. A falling wedge pattern is bullish , although it appears after a bearish trend .The falling wedge pattern works as both a trend work as a trend reversal and a trend continuation pattern.If the falling wedge appears in a downtrend, it is considered a reversal pattern.
A falling wedge is an important technical formation that signals that the correction, or consolidation, has just ended as the asset’s price left the wedge to the upside and, in most cases, the continuation of the overall trend is taking place.
In Current structure we can see that the price has been higher than the 20 MA level ,which is good sign for Bullish and also price has given breakout above the resistance level talong with good volume accumulation.
Currently, TCS is at 3291 Rs , If the pattern continues , the price of TCS might reach the 3795 Rs level . If the trend reversed, then the price of TCS may fall to 3095 Rs level
Key Factor
Falling Wedge - Bullish Reversal Pattern
20MA - Price above 20 MA
Happy Trading ! Jai Hind !
The falling wedge is a bullish price pattern that represents a story about the market in which bulls are preparing for another push. A falling wedge pattern is bullish , although it appears after a bearish trend .The falling wedge pattern works as both a trend work as a trend reversal and a trend continuation pattern.If the falling wedge appears in a downtrend, it is considered a reversal pattern.
A falling wedge is an important technical formation that signals that the correction, or consolidation, has just ended as the asset’s price left the wedge to the upside and, in most cases, the continuation of the overall trend is taking place.
In Current structure we can see that the price has been higher than the 20 MA level ,which is good sign for Bullish and also price has given breakout above the resistance level talong with good volume accumulation.
Currently, TCS is at 3291 Rs , If the pattern continues , the price of TCS might reach the 3795 Rs level . If the trend reversed, then the price of TCS may fall to 3095 Rs level
Key Factor
Falling Wedge - Bullish Reversal Pattern
20MA - Price above 20 MA
Happy Trading ! Jai Hind !
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.