TCS has given a breakout today & it's also at a good level to catch Why TCS over all other IT Stocks NSE:TCS
Reason: Strength When all others were in sell-off facing selling Pressure. It was the only standing man. Where the candles were forming was quite demanding.
Don't forget to follow Follow for your learnings, not just for what I said
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TCS is About to breach its yesterday low. Down more than 1% is not a good sign for momentum. waiting for the index to take Support because as a large cap it tends to follow the index ;-) Support can come from yesterday's low too.
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TCS Worked Well for Today seeing rejection from the downside after Gap filling. Bulls are still having upper hand
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#TCS is Again Down because of index profit booking a lot of events ahead.
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IT, Metals, and Autos are weaker today.. volatility is kicking in because lots of Events are ahead now. Expecting stocks not to perform well for fewer days and all decent holding trades so one can hold these or takes SL.
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TCS is currently the gains-destroyer for me. My outlook for TCS is a little long-term, which is why I'm not cutting it, but if it falls more from this, I might be persuaded to sell some calls above it.
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Now I'll defend my position by selling Calls above the resistance level until IT stocks regain support.