The stock of Symphony has been following a descending triangle pattern. It has a strong demand zone near 800 levels and currently, its looking to give a bullish breakout from the trendline resistance. Next supply zone is around 1200-1220 levels.
The company has also announced a buyback at Rs. 2000/ share. Also, the summer heat might help boost the revenue in Q4...
Paytm announces a buyback but the share is struggling to keep up. It has barely crossed its resistance and has formed a doji, lets see what could happen next.
My target will be nearly a 10 less than 900, till holding of shares in demat last date for buyback conditions. Let's Paytm decide.
This is how tcs can react tomorrow, it's on its important zone if it breakes then we can expect a good move towards all time high, but we should wait and should see whether it consolidates at this level or what.
TCS BUY BACK & HOW I GOT IT RIGHT
BACKGROUND
TCS declared its Q3 results last evening and it was expected to announce a share buy-back proposal. This news was available ahead of the results and therefore, I decided to work out what could be the likely buy-back price that it may offer.
Based on my observations, TCS has a tendency to cross the buy-back price...
In this vide I talk about what is the price at which I would like to offer shares to TCS under the proposed buy back offer which is to be discussed in tomorrow's board meeting.
Please let me know your view.
Thank you,
Umesh
DISCLAIMER:
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. Kindly consult your licensed financial advisor before making any and all...
Yep ! TCS results are coming out in 4 hrs I guess. Yesterday itself TCS board has approved for share buyback, if I'm not wrong its around Rs.2800 I believe. So, a share buyback will always increase EPS of a company, here also it can happen.
But Results are coming out so there may be wildswings on any direction bcos we can never predict how Market views results....
