Based on the recent analyst meet, most of the brokerages have downgraded TCS. After touching, Rs 2812 on 4th of March, it closed today (10-Mar-2015) at Rs 2642. Today, it touched a low of Rs 2595 and then recovered remarkably, whereas the NIFTY has broken down below its crucial resistance level of 2750. Thus, it can be assumed that TCS has strong support at around 2600 level. Most of the bad news are already factored in the price. The result expectation is also muted and hence no major downside is visible from here. On the flip side, rupee is trading very weak and hence it acts as a major advantage of TCS. Providing NIFTY doesn't see any major crash, TCS is most likely to touch Rs 2800 in next couple of months.
Disclaimer : The investor should make their own analysis before taking any call.
Disclaimer : The investor should make their own analysis before taking any call.
