Buy TCS with target Rs 2,050, says Sumeet Bagadia

Sumeet Bagadia

At present level, IT sectors look attractive, and if we go for any particular stock then TCS looks good as it has given a breakout of its upper band of Triangle formation which indicates an upside movement in the counter.

Moreover, the stock has started to trade above its 50 days moving average which is placed at 1915 level which shows a positive trend for the time being.

A daily momentum indicator RSI reading is at 54.45 level with a positive crossover, apart from this, the RSI has given a breakout of its downward sloping trend line which points out for a positive breath in the stock. So one could go and buy TCS in cash at Rs 1,929 with a stop loss below Rs 1,860 with a target of Rs 2,030-2,050.