Women`s Day Pick 2024 : Buy TCS @ 4070 & Upto 4000 for the Target of 4400/ 4600 by Choice Broking
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Tata Consultancy Services (TCS), currently priced at ?4070, has shown a promising technical setup on the weekly chart with the formation of a rounding bottom pattern. The recent breakout from a daily trendline accompanied by substantial volume suggests a robust uptrend. Immediate resistance is anticipated around ?4400, while solid support is observed near ?3780. Furthermore, TCS is trading above crucial Exponential Moving Averages (EMAs) such as the 20-day, 50-day, 100-day, and 200-day, indicating a strong bullish momentum and signaling the potential for further upward price movement.
The Relative Strength Index (RSI) has rebounded from lower levels and currently stands at 55.84, reflecting increasing buying momentum. Additionally, the Stochastic Relative Strength Index (Stoch RSI) displays a positive crossover, further supporting the bullish outlook. Collectively, these technical indicators suggest that TCS may have the potential to achieve target prices of ?4400 and ?4600 in the near term.
A prudent strategy would involve considering buying opportunities on market dips, particularly around the ?4000 level. In summary, given the positive technical analysis and prevailing market conditions, TCS appears to present a promising buying opportunity for those targeting ?4400 and ?4600 price levels. It is essential to implement prudent risk management measures when considering such trades.
Buy TCS @ 4070 & Upto 4000 for the Target of 4400/ 4600
For Detailed Report With Disclaimer Visit. https://choicebroking.in/disclaimer
SEBI Registration no.: INZ 000160131
