TCS- Descending Channel- Sell Opportuninty

30 Kas 2016

As seen in Tata Consultancy, the price is moving in a descending channel forming lower highs and lower lows, indicating down trend in the daily charts .
Lately, the price has resisted the upper channel and .618 Fibonacci retracement of the last swing is acting as resistance. Also a break of low of Spinning top is a confirmation to sell.
Therefore, expecting the price to move towards the lower band.

5 Ara 2016

Not

.50 Fib retracement of last swing i.e. 2175- achieved.