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.