TCS (BUY, above Rs1,158, Target Rs1,200): TCS on the daily chart has signaled breakout from an ‘Ending diagonal’ after prices oscillated in narrow band of Rs1,08-1,35 and volume trend decelerating for almost 12 trading sessions. On Wednesday, the stock broke out from the trading band mentioned above with spurt in volumes, exhibiting strength in the counter. The amplitude of ‘Ending diagonal’ projects immediate target of Rs1,200 in the near term along with confirmation of a positive crossover in RSI. We advise buying the stock above Rs1,158 with stop loss of Rs1,140 for Target of Rs1,200.
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