TCS made a reversal candle on Friday. This is how it is placed now. Do not think it is straight forward to short from below chart. Still we have to do hard work and use SL. Just use this for tracking and guide line -
No offense Simple_Trader, but I wud not initiate short right away, rather I wud wait for some more time. My reasoning...
1> ADX/DMI shows it is in uptrend however, consolidation or retracement is well expected (divergence on RSI 9 and DMI 13) but I always got trapped with trading against trend.
2> Look at the Infosys chart - it has already entered into consolidation zone and hence I wud prefer to do short swing trade in infosys instead of TCS...
However, both the trades or analogy mentioned above are not supported by my main trading principle or checklist.. it is just I want to sharpen my skills on that front so writing my comments here with the hope that I get to see some devil's advocate replies...