Buy Tata Consultancy Services for target of Rs 1115: Edelweiss

MUMBAI: Edelweiss is of the view that TCS has broken 21 DEMA resistance on good volumes. It has advised to buy the stock with for target of Rs 1115.

“On the daily charts, the stock broke the resistance of 21 DEMA, placed at Rs 1036 with good volumes. Stock has already retraced 50 per cent of the recent fall from Rs 1115 to Rs 998. Beside this oscillator on daily charts also continue their uptrend, further indicating upside in the stock.

Buying is recommended at CMP of Rs 1046 with target of Rs 1115 and stop-loss of Rs 998,” the report said.