December 08, 2015
TCS (NSE Cash)
BUY
` 2280
` 2337 - 2325
` 2450
5-10 sessions
2320
2290
2420
2450
Bullish
Source: Falcon (Time - 10:00 IST)
Since July 2014, the stock is trading in a broad range of `2290 - 2780. Post recent corrective action,
the stock is trading near the lower end of the range.
On daily charts, the prices have been forming a ‘Falling Wedge’ pattern, which is usually seen at the
termination of the trend.
The ‘RSI’ indicator has shown a positive divergence and a positive crossover.
Looking at the above technical evidences, we advise traders to buy this stock from current level
and on correction up to ` 2325 for a target of ` 2450 in coming 5 to 10 trading sessions. The
stop loss for this trade set up can be kept at ` 2280.
December 08, 2015
TCS (NSE Cash)
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