tcs stock price: Big Movers on D-St: What should investors do with TCS, Titan Company and Surya Roshni?

The Indian market closed in the green for the second day in a row on Thursday, following positive global indices. The S&P BSE Sensex rallied over 400 points while Nifty50 closed above 16,100 levels.

At the sector level, purchases focused on metals, durable consumer goods, real estate, capital goods and public sector banks. The S&P BSE Mid-cap Index rose 1.1% and the S&P BSE Smallcap Index closed with gains of 1.3%.

Targeted actions included names such as

which closed with a gain of around 1%, a day before its results on Friday, while Rakesh Jhunjhunwala owned by Rakesh Jhunjhunwala rose more than 5% and gained more than 8% on Thursday.

Here’s what Amol Athawale, Assistant Vice President – Technical Research, Kotak Securities Ltd recommends investors do with these stocks when the market resumes trading today:

Tata Consultancy Services: Significant 50-Day SMA Breakout Level Ahead
After a short-term correction, the stock took support near Rs 3020 and rebounded strongly. After the pullback rally, the stock is hovering between Rs 3200 and Rs 3350.

The stock’s short-term texture is non-directional, perhaps traders are waiting for both sides to break.

For bulls, Rs 3350 or the 50-day SMA would be an important breakout level to watch. And if the stock manages to trade above the same level, we can expect a further uptrend towards Rs 3400-3450.

On the other hand, if the stock starts trading below Rs 3200, then the weakness could increase and this could take the stock towards Rs 3150-3120.

Titan Company: Support seen at Rs 2075-2050
Last Thursday, the stock opened with a 5% gap and after the gap opened, it was hovering between Rs 2105 and Rs 2140.

The stock has rebounded more than 9% so far in the week. A strong intraday movement in price volume indicates the possibility of further upside from current levels.

For traders, Rs 2075 and Rs 2050 would be the immediate support levels to watch. A close above this level could take it towards Rs 2200-2250.

On the other hand, a close below Rs 2050 could increase weakness and in this case traders might prefer to exit long positions.

Surya Roshni: Short-term chart texture is positive
On Thursday, the stock opened on a strong note and quickly rebounded nearly 10%. But due to profit booking at higher levels, it reduced some intraday gains.

Technically, the stock has formed a promising price-volume reversal formation that indicates a continuation of the uptrend formation in the near future.

We are of the opinion that the short-term texture of the chart is positive, but a new uptrend rally is only possible after Rs 400.

A close above Rs 400 could take the stock towards Rs 420-440. On the other hand, a new round of selling is possible if it manages to close below Rs 365. Below which, it could slip to Rs 350-345.

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts belong to them. These do not represent the views of Economic Times)

Karen J. Nelson