with the rupee impact still hanging in the air will TCS ever touch the 16000 mark?
cheers
Dear lawrieking,
I think you mean 1600 mark. But I believe that if you hold this scrip long enough, and they do not split or give bonus, at the rate at which they are doing business and growing, you will one day see even 16000.
Technically speaking, the stock has some resistances.
The first one is at 1200. Above this, if it clears 1265, then there may be a pitstop at 1330 / 1390. Only after that we can look at 1600.
But for all this to happen, TCS first has to close above 1200.
Definitely a great business to own for the long term but for the short term, the trend is bearish and we may be even be lucky enough to buy below 1100.
Peace,
Yasir