Sell TCS, Mahindra & Mahindra: GEPL Capital
GEPL Capital has come with its top trading picks for ther week. The research firm has recommended to sell Tata Consultancy Services (TCS) and Mahindra & Mahindra (M&M) for targets of Rs 1125 and Rs 585 respectively, in its report dated July 17th, 2012.
July 28, 2012 / 15:58 IST
GEPL Capital has come with its top trading picks for ther week. The research firm has recommended to sell Tata Consultancy Services (TCS) and Mahindra & Mahindra (M&M) for targets of Rs 1125 and Rs 585 respectively, in its report dated July 17th, 2012.
Tata Consultancy Services (TCS)
Action: SELL | Last Close: 1210| Target: 1125 | Stop Loss: 1260TCS was unable to clear the Resistance offered by a long term Trend Line on the weekly chart and after moving in a sideways band has formed a significant bearish candle on the weekly chart. It is now near a support level of 1190 but may likely breach it and test the support offered by an Advancing Trend line. The support level is place at 1110 to 1125 range. We recommend a sell on TCS with a stop loss of 1260 for a downside till 1120.Mahindra & Mahindra (M&M)
Action: SELL | Last Close: 717| Target: 585 | Stop Loss: 750M&M has been forming a bearish Head & Shoulder pattern on the weekly chart which implies further weakness in months to come. The Right shoulder is still not complete but is nearing completion. Once the stock starts to trade below the level of 670, it would be the initial sign of weakness, whereas a breach of 630 would confirm the pattern and raise the possibility of further decline till 585. We recommend a sell on the stock once it closes below 670 with a stop loss of 750 for a potential downside till the level 585 and lower in next couple of months.Shares held by Insurance Companies Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.To read the full report click on the attachment 
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