Check out the technical trends in select stocks such as Tata Steel, TCS, HDFC, Crompton Greaves, Tata Global with Salil Sharma, technical analyst and partner at kapursharma.com:
SmartInvestor:Markets have been trading higher after consolidation in the previous few sessions. The Nifty is trading near 6,100 levels as of now. What is your call on the market for the near term? What would be your advice to traders at current levels?
Salil Sharma:The market has given a breakout after consolidation of four trading sessions making the breakout more sustainable. Advise to go long with a stop loss of 6,065 for a short term target of 6,150.
SmartInvestor:TCS has been in a downtrend for the past few weeks from Rs 2,300 levels. Is there further downside to the stock? What is the medium term outlook?
Salil Sharma:The stock is in a long term bull trend. The CNX IT index has given a fresh breakout on Tuesday. One should use the correction to enter the stock with a one-month perspective keeping a stop loss of Rs 2,060 and target of Rs 2,200.
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