Moneycontrol
Last Updated : Dec 06, 2018 10:04 AM IST | Source: Moneycontrol.com

Buy Tata Consultancy Services, target Rs 2170: Rupak De

Traders can accumulate the stock in the range of Rs 2,000–2,010 for the target of Rs 2,170 with a stop loss below Rs 1,919, says Rupak De of Bonanza Portfolio.

Moneycontrol Contributor @moneycontrolcom
 
 
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Rupak De

On the daily chart, Tata Consultancy Services has moved above the previous inflection point after making a double bottom. In addition, the price has moved above its 38.2 percent Fibonacci retracement level of the previous fall from Rs 2,275 to Rs 1,784.

The daily momentum indicator is in a bullish crossover with a current reading of 59.99. Traders can accumulate the stock in the range of Rs 2,000–2,010 for the target of Rs 2,170 with a stop loss below Rs 1,919.

The author is a Technical Research Analyst at Bonanza Portfolio Ltd.

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on Dec 6, 2018 10:04 am
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