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Published on 22/12/2020 11:51:05 AM | Source: ICICI Direct

Weekly Recommendation - Buy Tata Consultancy Services Ltd For Target Rs. 3015 - ICICI Direct

Posted in Broking Firm Views - Short Term Report| #Tata Consultancy Services Ltd #IT Sector #Trading Report #ICICI Direct

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Weekly Recommendation

Rationale Technology stocks are expected to continue to outperform in the coming week after better results from Accenture. The positive price action already started in the last few sessions and is likely to continue. TCS rose from 2200 to 2850 levels on the back of short covering. It had the highest Call base at 2800 strike while the stock managed to close above this level. Last Friday there was a huge closure in 2800 Call strike while positions have shifted to | 3000 levels, which should be the shortterm target

Long Tata Consultancy Services (TCS) December future in the range of Rs. 2835-2845; Target: Rs. 3015; Stop Loss: Rs. 2749

 


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