{"id":221028,"date":"2012-10-25T11:15:22","date_gmt":"2012-10-25T05:45:22","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=221028"},"modified":"2012-10-25T11:15:23","modified_gmt":"2012-10-25T05:45:23","slug":"analysis-tcs","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2012\/10\/25\/analysis-tcs\/","title":{"rendered":"Analysis: TCS"},"content":{"rendered":"

Today\u2019s pick is [stockquote]TCS[\/stockquote]. The stock has made a 29% since the 1020 levels of October 2011. <\/p>\n

The up-trend since last year saw a tip-off near 1440 levels recently; this can act as a near-term resistance level for the stock. Although the stock has seen two major corrections in the last year, it is still trading above the near-term support of 1290 (long-term resistance) levels and above the long-term support of 1070 levels. <\/p>\n

\"image\"<\/a> <\/p>\n

Oscillators RSI<\/a> and CMO<\/a> are at currently at 52 and -6. At this mid-level RSI, the stock has still got around 20 points to reach oversold levels. The current CMO level is also not suggesting any imminent move. <\/p>\n

The MACD<\/a> line just penetrated the signal line from below and the histogram<\/a> levels are on a rise as well. Both these signal are giving a slight signal of a short-term up-trend for the stock. <\/p>\n

The GMMA<\/a> chart currently is not saying anything. Both the long and short-term set of lines are running very close to each other. A departure from the current scenario, either up or down will decide upon the future of the stock. <\/p>\n

\"image\"<\/a> <\/p>\n

TCS\u2019s average correlation<\/a> of 0.50 with the Niftybees is positive but not very strong. At this level the movements of the stock will not be able to replicate the same magnitude as Niftybees. [stockquote]NIFTYBEES[\/stockquote] <\/p>\n

\"image\"<\/a> <\/p>\n

TCS has a historical volatility<\/a> in the range of 0.2 to 0.7. The current high volatility is a result of the EMKAY trades and it should not be a cause of concern. <\/p>\n

Looking at these technicals, it appears that the stock is presently trendless. A short-term hold<\/b> is suggested. The long-term outlook of the scrip will be decided by how long-term lines of GMMA unravel themselves in the coming days. <\/p>\n

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