ITC, TCS: Trading strategies for defensive stocks in a volatile session

Major stocks are showing upside bias with support from moving averages and technical parameters

Defensive stocks such as information technology (IT), and pharma and have given stellar returns in the calendar year 2020. On a year-to-date (YTD) basis, the S&P BSE Information Technology index has gained 37 per cent while the S&P BSE Healthcare index has rallied 46 per cent. In comparison, the S&P BSE Sensex has gained 7.3 per cent during the period, exchange data show. 

Given this sharp up move, what lies ahead for these stocks, and what should be your trading strategy in the current market environment. Take a look.

Tata Consultancy Services Limited (TCS):  The counter is showing a