[Premium] Trade Of The Week

JC Parets
August 16, 2021

This week we're looking at a long idea in the IT space.

Let's take a look at this name.

Tata Consultancy Services seems poised for its next leg higher. After months of basing it has broken out to all-time highs.

This name has lagged the broader market and other smallcap IT stocks all year. However, lately, we've been observing a trend of the top largecap stocks outperforming the broader market. TCS is the second-largest stock traded in India, so this works well with our top-down thesis as well.

Our bullish thesis holds as long as the price remains above the risk management level of 3,381, with a target near 4,500.

 

Thanks for reading and please let us know if you have any questions.

And if you're a Premium Member, be sure to check out our other weekly post, "Three Charts For The Week Ahead."

Allstarcharts Team

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