TCS collaborates with Intel, stock up from multi-month low

TCS, the largest IT exporter and the second largest company by market capitalisation, partnered with Intel to further secure Quartz blockchain solutions. TCS will integrate Intel Software Guard Extensions technology using the aforesaid solutions. This will improve the privacy and security of the blockchain-based ecosystems which is a major worry for companies seeking to migrate the part of their business to the blockchain. 

Quartz Solutions is known for safeguarding customers’ confidential and sensitive business code, data and transactions from unauthorized users. Thereby it helps enhance privacy, security, scalability and trust of the blockchain networks. 

Both TCS and Intel have collaborated before for various technologies including high-performance computing, artificial intelligence and Internet-of-Things. The collaborations have helped clients fast-track their business 4.0 transformations. 

The stock of TCS was moving in an upward sloping channel pattern from April 2018. Thereafter it traded with lower tops and lower bottoms since its all-time high levels on October 1. Meanwhile, it gave a channel pattern breakdown at Rs. 2,080 per share on October 10. Recently, after consecutive 5 days of fall including Wednesday's session, the stock has recovered and is trading up by 1 per cent gain. 

Volumes and oscillators suggest some consolidation at lower levels before either side momentum in the stock. The stock has breached its 100-day EMA levels but holds 200-day EMA support at 1,794 on NSE.