Balaji As a trader,speculator and Investor- Balaji have more than a decade of experience trading commodities, stocks and Fixed income securities including as a senior trader with Vexes capital.He also mentors or teaches investors, traders about Financial markets and provide professional training for individuals combining Institutional experience with a technical grasp of seizing market opportunity. Since leaving the Vexes capital and Newyork city,Balaji has been working as Trading coach along with presenting seminars and writing for a number of publications.

Tata Consultancy Services-PBT Technical analysis

28 sec read

Tata consultancy services is one of the few popular stocks in the service sector.But recently-it moved into a Range bound environment which caught my eye.

tcs
Here we can make following reasons technically:
Market is in a consolidation Phase
ROC is flashing Oversold Signal
Volume is weak technically indicating weakness of the sellers
Also price Making a rebound from last Support Level

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From the above reasons it is clear that Market will be moving in a range bound market for further period with slight pressure from bears

If considering to buy Tata consultancy services should wait until price makes a move further low.
In case if you are willing to sell through derivatives you can go ahead at break of 2,550 with tight stop above at your discretionary basis. 🙂

Balaji As a trader,speculator and Investor- Balaji have more than a decade of experience trading commodities, stocks and Fixed income securities including as a senior trader with Vexes capital.He also mentors or teaches investors, traders about Financial markets and provide professional training for individuals combining Institutional experience with a technical grasp of seizing market opportunity. Since leaving the Vexes capital and Newyork city,Balaji has been working as Trading coach along with presenting seminars and writing for a number of publications.

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