Stock of the week (1st – 5th August ’11)
TCS:
TCS is looking strong on chart, as it has been consolidating with positive biasness from last many trading sessions.
Currently it is trading above its 10 day and 50 days moving average on intraday charts with daily RSI at 47.44 levels.
If the stock continues to sustain above the level of 1148 we may expect an up rally in it. Traders may go long in this stock above the level of 1155 for the targets of 1175 and 1200 with the strict stop loss of 1137.
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