[Premium] Trade Of The Week
August 16, 2021
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.
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Allstarcharts Team