Technical Calls:TCS and IRB

By | April 27, 2012

TCS

TCS has moved by almost 15% after results but unable to cross the laxman rekha of 1205. As seen from above chart supply exists at higher levels and also TCS looks quiet expensive on fundamental basis.

Gap also exists from 1064-1135 which will get filled eventually

Sell below 1187 Tgt 1176,1164 and 1150

Buy above 1209 Tgt 1224 and 1246

 

IRB

IRB has taken support at 200 DMA@ 166 and closed above it. Long term investor can use the opportunity to buy. relief rally can take place as the decline from 206-166 has been without any bounce.

Buy above 169.3  Tgt 174.2,177 and 181

Sell below 166 TGt 164,161 and 157

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