Chart of the day – Tata Consultancy Services Limited

Tata Consultancy Services

Since last few weeks IT sector has outperformed. A recent correction in the index is providing a good opportunity to enter the stocks again for longs. TCS have taken support on multiple pivots levels. A-B-C-D-E correction seems to terminate. If 2900 levels are saved by the buyers, the IT major may scale upto 3200 levels again. However below 2900 the correction may sub divide and it may test 2750 levels too. Strong close above 3040 levels will hold the key.

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