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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
