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Buy TCS Ltd For Target Rs.100 - Religare Broking
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Derivative Ideas
TCS shed 1.96% and closed at 3360 on 10th June. The IT sector has been in corrective bias and TCS is no different. Recently the stock has broken and started Trading below its important support zone at 3400-3470. After minor pullback, the stock is facing a hurdle at its previous support which is now acting as a resistance We anticipate further pain in the stock and thus suggest initiating Shorts with the PE option.
Strategy:- Buy TCS 3350 PE @ 50-55, STOPLOSS 20, TARGET 100.
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