TCS is consolidating sideways on the hourly time frame, and is forming a potential Cup and Handle formation on the daily chart. A recent rebound from the 100 SMA level suggests a continued bullish momentum.
Nomura maintained a neutral rating on HCL Technologies with a target price of Rs 1,200. After the divesture, HCL would lose $97 million or 80 bps of its current revenues. As a part of this divesture, HCL would receive $170 million + net book value on the date of closing.
For Wednesday, share market analysts from a domestic brokerage have assigned Buy calls on HCL Tech, Max Financial Services and Praj Industries. Check price targets and other crucial details.
Top stock picks for today: Going by technical charts, one can buy the stock for a target price of Rs 1,375, keeping a stop loss at Rs 1,318, Akshay Bhagwat told BT TV. HCL Tech today edged 0.07 per cent lower to trade at Rs 1,328.55 in early deals.