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Few trading ideas by Sameet Chavan, Chief Analyst- Technical and Derivatives, Angel Broking:
TCS – BUY
Target - Rs 2,520
Stop Loss - Rs 2,380
Of late, we witnessed a decent price correction in the entire ‘IT’ space; but, now we can observe a cluster of support zone for some of its heavyweight constituents and ‘TCS’ is clearly one of them. Looking at the daily chart, it seems that the corrective phase is over as the stock prices are showing tremendous resilience around the daily ’89 EMA’, ‘200 SMA’ as well as the 61.8% Fibonacci retracement of the
TCS – BUY
Target - Rs 2,520
Stop Loss - Rs 2,380
Of late, we witnessed a decent price correction in the entire ‘IT’ space; but, now we can observe a cluster of support zone for some of its heavyweight constituents and ‘TCS’ is clearly one of them. Looking at the daily chart, it seems that the corrective phase is over as the stock prices are showing tremendous resilience around the daily ’89 EMA’, ‘200 SMA’ as well as the 61.8% Fibonacci retracement of the
