Trade Spotlight: How should you trade TCS, HDFC Bank, CIE Automotive, Afcons Infrastructure, Eris Lifesciences, and others on Tuesday?

About this update from Cie Automotive India Ltd

Bulls maintained their control over Dalal Street for another session, driving the Nifty 50 higher by 1.3 percent on November 25, with a positive market breadth. About 1,783 shares gained on the NSE, compared to 744 declining shares. The momentum is expected to remain positive, but considering the 1,000-point rally over the last two sessions, some consolidation cannot be ruled out. Below are some trading ideas for the near term:Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI SecuritiesTCS Futures | CMP: Rs 4,319Tata Consultancy Services (TCS) has confirmed higher tops and higher bottoms on the daily charts. The stock has moved above its 200 DMA (Day Moving Average). The momentum indicator MACD (Moving Average Convergence Divergence) has provided a buy crossover on the daily charts. The stock is progressing in an upward-sloping parallel channel and is expected to inch toward the upper end of the channel. Its PCR (Put-Call Ratio) is above 1, at 1.08, which is bullish for the short term. The stock is trading well above its maximum pain and modified maximum pain levels of Rs 4,150 and Rs 4,227, respectively. TCS has witnessed significant Call unwinding from Rs 4,000 to Rs 4,300, as well as good Put buildup at these levels, indicating that the bulls are in control and the short-term trend is upward.Strategy: BuyTarget: Rs 4,440, Rs 4,515Stop-Loss: Rs 4,254HDFC Bank | CMP: Rs 1,785.6HDFC Bank has provided a breakout above its consolidation, forming an ascending triangle pattern. Although the breakout coincided with the MSCI rebalancing, the probability of an upside remains high. The MACD indicator is in a buy mode on the daily charts, indicating a positive short-term trend. As per derivatives data, there is substantial Call unwinding from Rs 1,720 to Rs 1,760, along with good Put additions from Rs 1,740 to Rs 1,780, suggesting the likelihood of further buying. However, Rs 1,800 remains a key resistance level, with significant Call open interest. Only above Rs 1,800 can we expect further momentum to build.Strategy: BuyTarget: Rs 1,860, Rs 1,900Stop-Loss: Rs 1,747Piramal Enterprises | CMP: Rs 1,107.75Piramal Enterprises has broken out from a sideways consolidation, with a bullish crossover on the MACD on daily charts, indicating a positive short-term trend. In options, the stock has witnessed good Call unwinding at lower levels, with ...

View stock analysis, news, and events for Cie Automotive India Ltd