Bullish Hammer on Monthly Chart Signals Bottom for TCS; Buy with stop loss at Rs 3,500

“TCS stock had formed a ‘Bullish Hammer’ pattern on the monthly chart and the prices have surpassed the high of the candle, which indicates bottoming of the stock price and a trend reversal. Traders can buy the stock for a target of Rs 3800 in the next few weeks,” Ruchit Jayantilal Jain, VP, Head – Equity Technical Research at Motilal Oswal Financial Services Limited, said.