Tag Archives: Accumulate

Technology tamfitronics Mumbai: Investors looking to accumulate blue-chip stocks could consider Tata Consultancy Services (TCS), India's largest software exporter, at current levels as technical indicators are pointing to a limited downside from here. Analysts said interest rate cuts by the US Federal Reserve will be the next big trigger for information technology (IT) stocks, including TCS.According to Tradonomy ResearchTCS is in an 'uptrend consolidation zone' and is near breakout levels."Historically post-breakout, TCS has given at an average 80% upside; however, due to its large market-cap status, we expect an upside of about 60% leading to a target of ₹6,300," said Dharan Shah, founder, Tradonomy. "Historically on average it has corrected about 25% from the previous top and consolidated timewise for around 2 - 3 years.In the past three years, TCS shares have hovered in the...