Feb 21, 2013, 09.58 AM | Source: CNBC-TV18
See more upside in Tata Consultancy Services (TCS), says Sudarshan Sukhani of s2analytics.com. It is a much better looking chart. It is on the verge of making lifetime new highs.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, " Tata Consultancy Services (TCS) is a much better looking chart. It is on the verge of making lifetime new highs.”
He further added, “In a market as bad as this if a stock manages to do that we want to respect it and we want to say okay. See the context for day traders is very important, if the whole market is going to be subdued today, there is no need to buy TCS but if we get an intraday sense, sometime during the day during the afternoon that the market is now rallying or even consolidating, it is wiser to go for TCS than to buy the Nifty. You get much more upside there."
At 09:26 hrs Tata Consultancy Services was quoting at Rs 1,447.65, down Rs 4.45, or 0.31%. It has touched an intraday high of Rs 1,449.00 and an intraday low of Rs 1,440.95.
The share touched its 52-week high Rs 1,455 and 52-week low Rs 1,102.45 on 20 February, 2013 and 23 April, 2012, respectively. Currently, it is trading 0.51% below its 52-week high and 31.31% above its 52-week low. Market capitalisation stands at Rs 283,337.10 crore.