Tata Consultancy Services Limited (TCS) is engaged in providing information technology (IT) services, digital and business solutions. The Company’s segments include banking, finance and insurance services (BFSI); manufacturing; retail and consumer packaged goods (CPG); telecom, media and entertainment, and others, such as energy, resources and utilities, hi-tech, life science and healthcare, s-Governance, travel, transportation and hospitality, and other products. Its software offerings include Digital Software and Solutions, TCS BaNCS and TCS MasterCraft, among others.
SHORT TERM PERSPECTIVE
|Company||Tata Consultancy Services Limited (TCS)|
|Stop Loss (SL)||Rs.2035|
|Time Horizon||2-4 Weeks|
Source: Capitaline Database, EWAL Research
Intermediate and long term trend is up in this stock. After a mild correction, stock is trying to reverse from pervious support level which is placed around 2020. This level also witness reversal in the past. As of now stock has completed downside target and try to reverse from bottom. A bullish RSI and MACD buy signal has emerged on the Daily chart. Continuous increasing in volumes at lower level witnesses a reversal from current levels, therefore we are recommending to accumulate this stock between Rs. 2105 – Rs. 2110 with a stop loss of Rs. 2035 (on closing basis) for the target price of Rs. 2260. Time frame should be 2-4 weeks.
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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