IIFL recommends buy on TCS for price target of Rs 1,127
Tue, 30 Nov 2010 21:55:31 -0700
TCS continues to remain in a steady uptrend withholding its rising support line.
IIFL has given a buy recommendation on TCS with a price target of Rs 1,127.
TCS continues to remain in a steady uptrend withholding its rising support line and the stock has regained its control above the short-term moving averages in the past two sessions. With the stock closely trading near its all-time peak, there remains a high probability of further outperformance by this counter, the brokerage said in a note.
The daily RSI has also signalled a positive crossover, which supports the buying argument on the counter. "We advise buying the stock above Rs 1,087 with a stop loss of Rs 1,067," it said.
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