Trade Idea of The Day - Tata Consultancy Services Ltd Target Rs.86 - Religare Broking Ltd
Tata Consultancy Services Ltd
BUY 28 APR 2600 CALL Tata Consultancy Services Ltd Entry Range 56 – 58 Target Range 86 Stop Loss 40
Rationale
* On the daily chart TCS has shown a bullish reversal after breaking out of a short-term consolidation zone, indicating renewed buying interest at lower levels. The recent price action suggests formation of a near-term bottom.
* A strong rebound from oversold territory is supported by improving RSI, which is now trending higher, reflecting strengthening momentum and shift in market sentiment.
* On the technical front, price reclaiming the 20 EMA signals early signs of trend reversal, with potential upside towards the 2600–2650 zone in the near term.
* Overall structure indicates that recovery is likely to continue, as long as the stock sustains above immediate support near 2450, keeping bullish bias intact.
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