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Stock Mantra: Look at that breakout, it says TCS is an attractive buy

The stock is on its way to hit the Rs 4,000-mark, after making a fresh 52-week high on Monday. One analyst suggests a target of Rs 3,800-4,100, with a stop-loss at the Rs 3,100 level. Tata Consultancy Services (TCS) , a global leader in IT services, consulting, and business solutions, has rallied by over 20 percent so far in 2021, compared to the over 18 percent rise seen in the Nifty50, and over 35 percent gain in the S&P BSE IT index. The stock has been underperforming, compared to its sectoral benchmark so far this year, but the recent breakout seen in TCS, after roughly 2 months of consolidation, suggests that the rally could extend towards Rs 4,000, suggest experts. TCS, the second-largest company with respect to market capitalization, hit a fresh 52-week high of Rs 3,492.50 on Monday (August 16, 2021). The stock bounced back after hitting a low of Rs 3,132 on July 28. Stock falls after Q1 results, rallies in August TCS reported a consolidated profit of Rs 9,008 cro...

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