TCS Stock Analysis-07Feb2020

TCS stock closed on Friday, 7th Feb at 2136, while the 50 day SMA is at 2156.

TCS Technical Analysis: The stock made a triple top at 2244, and a failure to breakout created significant selling pressure, for correction till 2070. 10 day SMA below 50 day SMA is not a healthy sign, and many frontline stocks in India market (Nifty50) are showing this pattern.

TCS stock has been closing below its 50 day SMA for last several days, but with higher daily low, which indicates that stock maybe ready to rise further. Fresh long positions should be created above 2180 for target 2250.

 

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