Life is not that good for the software stocks following US decision on H1B visa. Infosys made a good reversal formation but price returned from the breakout level. The breakout level coincided with 200 DMA. Please refer to our earlier post named Infosys: Good times ahead.
Let us now focus on India's largest software company, Tata Consultancy Services or TCS. Here also, like Infosys, the crucial level coincides with 200 DMA. Unlike Infosys, TCS has formed bearish pattern. According to the pattern, TCS may fall to 2300 or even 2200 if it breaks and stays below 2390. The break needs to be accompanied by expanding volume.
Please note TCS will announce its Q4 nos on 18th April while Q4 results of Infosys will be out on 13th April.
The chart of TCS is given below.
Let us now focus on India's largest software company, Tata Consultancy Services or TCS. Here also, like Infosys, the crucial level coincides with 200 DMA. Unlike Infosys, TCS has formed bearish pattern. According to the pattern, TCS may fall to 2300 or even 2200 if it breaks and stays below 2390. The break needs to be accompanied by expanding volume.
Please note TCS will announce its Q4 nos on 18th April while Q4 results of Infosys will be out on 13th April.
The chart of TCS is given below.
Disclaimer - The views here expressed and the charts shared are strictly for educational purpose and not guideline for buy or sell. The author will not be responsible for any loss, that may occur.
4 comments:
TCS is a great player in Indian Stock Market, it has high stock price comparing with other IT companies and it's profit margin is also very high. According to an analyst who gives Nifty call TCS is a stable share which do not rapidly move.
Great article sir thanks for sharing this kind of information. Stock market is the easyest way to make profit but you want the best stock market advisor so i suggest the best stock market advisory is wealth research financial services. So your are interested in share market so please visit our website.
BEST STOCK CASH TIPS
BEST STOCK FUTURE TIPS
Great article thanks for sharing this kind of information. We are providing best FUTURE TIPSin Indore and secure your investment with us and that uses composite stock future tips in Indore to allow investors to speculate on the performance of the entire market, or to hedge against losses in long or short positions. The settlement of the contracts is in cash in index future.
The update you have share is very useful for future actions on market. Keep on sharing the same.
Open Demat Account with Indira Securities best Stock Broker
Open Commodity Trading Account
Open equity Trading Account
Mobile Trading App
Post a Comment