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Last Updated : May 31, 2016 10:57 AM IST | Source: CNBC-TV18

TCS may test Rs 2680, Dr Reddy's Rs 3240, Titan Rs 390: Gaba

Prakash Gaba of prakashgaba.com is of the view that TCS may test Rs 2680, Dr Reddy's Labs may hit Rs 3240 while Titan Company may head to Rs 390.

Prakash Gaba of prakashgaba.com told CNBC-TV18, "Tata Consultancy Services (TCS) has given a beautiful breakout, basically a classical textbook reversal pattern and a massive breakout like this, the upmove is still on. The short-term target that I have is Rs 2,680, keep stop loss below Rs 2,607. But I think there is much more upside in TCS in the days to come than just Rs 2,680."

"I like Dr Reddy's Laboratories for the simple reason that it is trying to form a base, pharmaceuticals is looking good, it has got a short-term breakout here. The stock should head up to levels closer to Rs 3,240, keep stop loss below Rs 3,140," he said.

"I would pick up TV18 Broadcast, it looks good. The stock is into an expansion mode. The target that I have is Rs 43, but it can go towards Rs 43-44 zones and keep stop loss below Rs 40. TV18 looks good to me."

Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.

"Titan Company has seen a good upmove in the sense, it is kind of a consolidation. Today’s move is a gap up breakout. So, as long as the level of Rs 370 holds, that is a strong support zone to work with. Targets like Rs 390, maybe a couple of days for that, looks like Rs 390 is on the cards for Titan."

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First Published on May 31, 2016 10:57 am
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