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This Tata group company is among Sharekhan's top stock picks for today

TCS has witnessed buying interest from the 50 per cent Fibonacci retracement level (3780) of the previous rise from 3,311 - 4255. Positive divergence is also witnessed on the daily charts

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Jatin Gedia Mumbai

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TCS

TCS has witnessed buying interest from the 50 per cent Fibonacci retracement level (3780) of the previous rise from 3,311 – 4255. Positive divergence is also witnessed on the daily charts indicating loss of selling momentum on the downside. 

We expect the stock to retrace the recent decline and rise towards 4,070 – 4,100 from a short term perspective. Stop Loss should be maintained at 3,850 for the long positions.

Jubilant Food Works

The stock has been in a downtrend since December, 2023. The stock has started to form higher tops and higher bottoms on the daily charts indicating trend reversal from down to up. 

The daily momentum indicator has triggered a fresh positive crossover which is a Buy signal. Thus, both price and momentum indicators are suggesting a further upside in the stock. 

We expect the stock to  rally towards 503 – 522 from a short term perspective. We suggest a stop loss of 453 for the long positions.

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Note: All stock prices in Rs
Disclaimer: Jatin Gedia is Technical Research Analyst at Sharekhan by BNP Paribas. Views expressed are his own.

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First Published: May 07 2024 | 6:57 AM IST

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