TCS: ABC Correction Complete – New Impulse Wave in Focus
TCS appears to have completed a classic Elliott Wave structure, consisting of an initial 5-wave impulsive move followed by an A-B-C corrective phase. The recent price action suggests the correction has likely ended, and a new bullish impulsive move is beginning.
Fundamental trigger:
Interestingly, just a few days ago, TCS announced strong quarterly results — reporting solid profits and declaring a dividend. Despite the positive news, the stock reacted negatively and moved lower. This could have been a classic case of "good news, bad reaction" — possibly a stop-loss hunt or smart money absorbing liquidity before the next leg up.
Key technical points:
✅ Wave 1-2-3-4-5 clearly visible, forming the initial impulse.
✅ A-B-C correction appears complete with price reversing from a key support zone.
📈 Bullish structure forming; watching for confirmation with a break above recent highs.
🔍 Technicals and sentiment suggest renewed upside potential, despite short-term shakeouts.
Invalidation below recent swing low (Beginning of 1st Impulsive).
This setup offers a potential long opportunity with a favorable risk-reward
#TCS #NSE:TCS #ElliottWave #WaveAnalysis #TechnicalAnalysis #ABCCorrection #ImpulsiveWave #LongSetup #ChartAnalysis #NSEStocks #IndianStocks #Dividend #Earnings #PostEarningsMove #TrendReversal #SwingTrading #PriceAction #SmartMoney
source https://www.tradingview.com/chart/TCS/ZET9LNf3-TCS-ABC-Correction-Complete-New-Impulse-Wave-in-Focus/
No comments:
Post a Comment