BUY TCS ABOVE 2330 TGT 2355/2395 SL 2300
SELL TCS BELOW 2280 TGT 2250/2230 SL 2310
After showing correction from the 200 EMA on daily chart,
now stock is trading in short term recovery phase, it is likely to continue the
upside move in near term with the crossing of the resistance level of 2330 as
the stock is managing to sustain above the level of 2330. One may get the
targets of 2355,2395 in the stock with the stop loss of 2300. Tata Consultancy Services Ltd is currently trading at Rs 2320, up by Rs 10.85 or
0.5% from its previous closing of Rs 2309.15 on the NSE. The IT Company will
announce its Q3 results on Jan 12, 2017. revenue may grow 1 percent to
Rs 29,577 crore in Q3.
Market Still In Positive Momentum, Hold Long trade For
Now
Indian Stock
Market would open positive. Technically, Market is still in positive zone and
traders can hold long positions for now. Nifty is forming double bottom pattern
and close above 8350 would confirm the pattern that would open Nifty target for
8500-8600 levels. BankNifty is also in positive momentum and may see targets of
19000 breaching soon. BankNifty close above 18800, its next target would open
for 19000/19200 levels. Overall, traders should continue to hold long positions
with strict stoploss of 8250 for Nifty and 18500 of BankNifty on closing basis.
So
on upside first intra resistance are at 8400,8425,8467,8499. On downside first
support is at 8147 level.Next support are at 8250,8210,8155,8120.
TOP
GAINERS: Hindalco, Coal India and Bank of Baroda, IndusInd Bank
TOP
LOSERS: Bajaj Auto, HCL Tech, RIL and ITC
TCS stocks price are down by 1.5% dur to year end. From the report of last 3 month the profit percent of tcs has decreased. I would suggest to have good research of shares before investing. Daily updates can be found at epic research site for better understanding of market.
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