Thursday, December 16, 2010

TCS: Quick gains

For the past 3-4 days, the two giant IT stocks have been rapidly rallying. TCS, Wipro, Infosys all have been literally shooting gains. A pattern is observed as follows:
TCS: A fast breakout from the ascending triangle is seen with rising volumes.
         Also the MACD positive crossover is seen. a short term target of 1175 is estimated (refer chart)
         The timeframe would be 3-4 trding sessions

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