Will "Tata Communication" reach 1800 level

Jul 4, 2023

TATACOMM
"Let every nation flag rise"

TECHNICALS - As we can see in chart TATACOMM is making a Bullish flag Pattern with rise in volume when the marker was trending and decline in volume in the formation of the flag this is a high probability setup for being LONG above the resistance of (1674.00) to the target of 1800 which is a near Fibonacci level of (1.618)and a price level of 1800.

FUNDAMENTAL - ISEC has upgraded TATACOMM latest report publish by them .

ACQUIRE - Tata Communications TATACOMM has agreed to acquire Kaleyra, a US-based omnichannel integrated CPaaS player for enterprise value of US250mn (0.73x CY22
sales). This is likely to enhance TATACOMM global position in CPaaS services (which
is growing at 25% CAGR as per Juniper), and with The Switch acquisition, TATACOMM
position in the US may become stronger. Strong digital businesses in the US can
assist TATACOMM to cross sell other products, thereby, improving market share in core
connectivity and Digital services

Over all market - The market index NIFTY and the communication sector must also show support for this idea to work

CONCLUSION - All this Fundamental and technical analyses make a higher probability for TATACOMM to reach 1800 .

Aug 27, 2023

Trade closed: target reached

1800 level reached twice and rejected which make it a double top and short buildup in option chain