TCS:
TCS has a support at 1750 on the daily chart. On the 30 min chart, for a bullish day we can observe that TCS expands in the morning session and normally stays in place for the rest of the day. TCS had tested a low of 1784 a day ago and this low could be tested again today. In a good scenario, today's low of 1808 is maintained and the stock stays above it. This would surely mean a bullish move from here.Below 1780 a lot of stop losses will trigger and the stock could move to 1760 levels too. The stock should be bullish for a below 1810 opening.The days volatility should be greater than today's. The stock should form a bottom today. So the day can be considered bullish.
Nifty:
Nifty has had very good 2 days. Aug 7th had 2 supports at 5500 levels. It is time for Nifty to make a low. But this low could still be higher than 5570.Most likely a low will form between 5570 and 5580 followed by another bullish day. Surely 5675 will not be broken.The volatility will be less than todays. Selling 5500 puts should be a good idea for this month.
The news is very bad for NIfty as it has been downgraded by a number of agencies. this should surely result in a much lower low than as expected earlier. It might even be a bearish day.
TCS has a support at 1750 on the daily chart. On the 30 min chart, for a bullish day we can observe that TCS expands in the morning session and normally stays in place for the rest of the day. TCS had tested a low of 1784 a day ago and this low could be tested again today. In a good scenario, today's low of 1808 is maintained and the stock stays above it. This would surely mean a bullish move from here.Below 1780 a lot of stop losses will trigger and the stock could move to 1760 levels too. The stock should be bullish for a below 1810 opening.The days volatility should be greater than today's. The stock should form a bottom today. So the day can be considered bullish.
Nifty:
Nifty has had very good 2 days. Aug 7th had 2 supports at 5500 levels. It is time for Nifty to make a low. But this low could still be higher than 5570.Most likely a low will form between 5570 and 5580 followed by another bullish day. Surely 5675 will not be broken.The volatility will be less than todays. Selling 5500 puts should be a good idea for this month.
The news is very bad for NIfty as it has been downgraded by a number of agencies. this should surely result in a much lower low than as expected earlier. It might even be a bearish day.
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