BUY TCS @ 2490-2500 SL 2448 TGT 2600 | 5-10 Days
In last five months, the prices have been trading in a range of `2450 to `2770 and prices are trading at the support end of the range post recent correction.
Around the support zone, the stock has formed a ‘Gravestone Doji’ candlestick pattern in yesterday’s trading session, which can be a trigger for the short term up move in the counter.
The ‘Stochastic’ indicator is giving positive crossover with its average from the oversold territory in the daily chart, indicating a bounce on cards.
Looking at the above technical evidences, we are expecting a pullback move in the stock. Thus, we advise traders to buy this stock from current level and on a correction up to ` 2490 for a target of ` 2600 in coming 5 to 10 trading sessions. The stop loss for this trade set up can be kept at ` 2448.
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