tcs stock price analysis aug 2013

tcs stock price view and technical analysis

TCS share on last trading session closed at 1947 with gains.on daily chart TCS share is in absolute uptrend and momentum is on buying for month of sep 2013,expect 1950 and then 2075 as upside target while above 1700 traders keep buying view.on daily chart 1700 is TCS share 3month average and 1810 is month average and remain as supports for upcoming time.

on weekly chart,TCS share is in bull market and after bullish breakout at 200 in 2009,still holding these 4 years almost roused by 10 times!!here 1610 is 6 month average and first support.below that 1490 is 12 month average and 1330 is 2 years average and last support from long term 2340 remain as upside target for medium term investors.

on monthly chart,trending towards straight 4th month positive in these 4 month time period prices rallied from 1400 to now almost 600 rupee means 40%+ return in very short time and in very weak environment.from long term view above 2000 investors can expect 2340 to 2700 as next target levels.for now 1200 –1300 is major support zone and investment levels on any major decline.

in my personal view,near 2000-2100 zone investors must book 70-80% holding in this stock and keep stoploss of 1800(weekly closing basis) and wait for target 2300-2700.because strong rupee rebound rally may hit high profit booking from funds and FII.


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Pramod Baviskar

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