This could prove to be a high reward low risk trade. Look at the charts of
Tcs above. After a stellar rally the stock had been consolidating for quite long. This consolidation has taken form of a triangle. The stock is in the last leg of the triangle. Now according to the theory the e leg of the triangle does not violate the c leg on the lower end. This helps us in concluding a potential stop loss of 2400. Even the stochastic oscillator has started turning on the positive edge.
Buy with a stoploss at 2400 for targets of 3250-3300.
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The market recovered sharply with the Nifty hitting 7800-mark after the Reserve Bank of India surprisingly cut repo rate by 50 basis points. TO GET BEST FUTURE TIPS Check FUTURE TIPS
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