TCS has been in an upward run for a long while; recently on the 28th of March 2013 it had made an intermediate top of 1575 & has dipped since then. 1400 is an important support & it has been marked on the chart, today’s closing was seen at the price of 1452.5 which is just above the very crucial support level, the stock might dwell at this level for some time & then rise up again. 1600 is the recent high & also a very important resistance, if the security closes above this level on a daily basis with a significant candlestick pattern it will move up to form new highs over the coming months.
But, investors as well as traders should watch the support at 1400 closely & if market breaches below this level it will move towards the lower supports of 1250 & 1175. Further if the stock closes below 1175 on the daily basis TCS will no longer remain in an upward trend.
But, investors as well as traders should watch the support at 1400 closely & if market breaches below this level it will move towards the lower supports of 1250 & 1175. Further if the stock closes below 1175 on the daily basis TCS will no longer remain in an upward trend.
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