Date: 23/Nov/2011
CMP: 1062
About TCS in Brief:
It is a global IT services, business solutions and outsourcing company headquartered in Mumbai, India. It is the largest provider of information technology in Asia and second largest provider of business process outsourcing services in India.
Technical Indicators:
| 5 Day SMA | 1028 |
| 20 Day SMA | 1103 |
| 200 Day SMA | 1107 |
Analysis:
TCS has recently got a contract worth $2.2billion spread over coming 15 years. Madhya Pradesh is in discussion with TCS for setting up a new development centre in the state. Depreciation in rupee is expected to increase the bottom line of the company in the coming quarter.
Recommendation:
Technical’s show that the stock is in a short term downward trend it has fallen from 1128 on 14-Nov-11 to 1062 as on today. So wait for the markets to play out and than one can buy the stock for medium to long term.
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