Sell TCS, target Rs 2400: CapitalVia Global Research
The stock has found strong resistance at its 50 period moving average on its daily chart which indicates supply.
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| Updated: CapitalVia Global Research Ltd maintains a sell call on TCS with a target of Rs 2400 and a stop loss of Rs 2550.
The stock has found strong resistance at its 50 period moving average on its daily chart which indicates supply. After a strong rally, the stock has pulled back recently. However, it managed to bounce back from its resistance around 2550.
The short term resistance level is placed at Rs 2500, and a move below this level could trigger further downside momentum, where shorts can be initiated for the target of Rs 2,400 with the stop loss of Rs 2,550.
The stock has found strong resistance at its 50 period moving average on its daily chart which indicates supply. After a strong rally, the stock has pulled back recently. However, it managed to bounce back from its resistance around 2550.
The short term resistance level is placed at Rs 2500, and a move below this level could trigger further downside momentum, where shorts can be initiated for the target of Rs 2,400 with the stop loss of Rs 2,550.
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