Only for Educational purpose. This stock TCS is right now in good area where buying could be initiated, we have noticed that the price is right now at lower point of parallel channel in daily time frame, where demand zone is also co-incidentally matches and 200DEMA is also at same level of that area zone, but its not confirmed yet to go long, if any type of bullish candle pattern is seen in lower time frame like 30 minutes or in hourly then it could be an opportunity to go long after checking all parameters are aligned or not for trade, with stop loss of last swing low, don't jump directly to buy, do your own studies these types of scenarios on regular basis, check how they works check the probabilities of price directions or price actions. as per previous price action targets are mentioned and stop loss is also mentioned. Thanks.
Support and resistance view
Parallel channel view along with 200 dema
Morning star candle pattern
Stop loss and targets are mentioned in chart
Disclaimer. I am not a sebi registered analyst My studies are for educational purpose only Please consult your financial advisor before trading or investing I am not responsible for any type of your profit s and losses
Thank you for your valuable contribution to the TradingView community and keep up the good work!
Good clear chart and idea with good clear explanation.
RK_Charts
⋅
@Angusmck Thank you so much, it's very nice to hear from you, it's a Pleasure for me, that my study has honoured as to be a part of Editor's picks, Thanks once again. 💕😇🙏
keshevdugar
⋅
Is it really Morning Star?
RK_Charts
⋅
@keshevdugar0210, yes dear, the ideal one
keshevdugar
⋅
@RK_Charts Lol with long wick rejection how can it be ideal🤣
RK_Charts
⋅
@keshevdugar0210, Hello Friend, ideal morning star's principles are 1st candle is RED Bearish candle, then 2nd one is GAP-DOWN and indecisive candle, and 3rd one GAP UP and Bullish Green Candle, That's it. Because this one is perfect (U-TURN) Trend Reversal. Hope you can understand the logic, Thanks and Regards. Have a Good Day.
keshevdugar
⋅
@RK_Charts, A morning star is a visual pattern made up of a tall black candlestick, a smaller black or white candlestick with a short body and long wicks, and a third tall white candlestick. The middle candle of the morning star captures a moment of market indecision where the bears begin to give way to bulls. The third candle confirms the reversal and can mark a new uptrend.
Read properly friend :)
sandeepbalachandran
⋅
@keshevdugar0210, Yes you are right that the middle candle's wick is far too big for an ideal morning star but your visualization pattern is right out of a text book. The color of the candle sticks is totally dependent on the users choice. Your black is actually a red and the white mentioned is a green. Maybe next time try not to sound like a bookworm and maybe call out errors in an approachable manner so the author actually listens and corrects the error.
keshevdugar
⋅
@sandeepbalachandran, Bro that was the definition of investopedia...I wanted to keep it as it is in front of him so that he can make a better conclusion out of it...and I peronally use black and white or yellow and red for my convenience...
keshevdugar
⋅
@sandeepbalachandran, And I guess the author should have common sense to understand black and white candles...Colour of the middle candle also does not matter in evening or morning star...It's the psycology behind every patterns that matter...
Thank you for your valuable contribution to the TradingView community and keep up the good work!
Good clear chart and idea with good clear explanation.