TCS is trading in a channel and is near its short term support. The targets and sl will be:
T1: 2120
T2: 2150
T3: 2200+
T4: 2300+
Sl: 2040
Time frame for the 1st two targets are short whereas last 2 targets can take 1-2 months to reach. Long term chart movement shows that TCS is a BUY call
The formation of NTPC chart suggests that the stock is going to move downwards in a short term basis. We could see the following targets as suggested in the stock in 1-4 months. The third target of rupees 97 will be achieved by the end of July or August.
