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 US$250mn (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 .
Trade closed: target reached:
1800 level reached twice and rejected which make it a double top and short buildup in option chain