Monday, 27 October 2008

TCS has support at Rs 450: Gujral

Technical Analyst, Ashwani Gujral is of the view that TCS has support at Rs 450.

Gujral told CNBC-TV18, "Infosys continues to remain in the range of Rs 1,000 to about Rs 1,200. TCS is at new lows, so I don’t think that’s quite strong. I think Rs 450 is a support, below that it could really get up to Rs 380 now."

He further added, "Satyam has also been holding up but all of these strong areas will now also start getting taken down. It has support around Rs 240-250 again Rs 320-325 will be a resistance. So really these largecap technologies at best will be rangebound, but they will also be at a serious risk because everything else has been beaten down so much."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol

No comments:

Post a Comment

DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.