Another beautiful Head and Shoulder pattern is formed in Tata Communication on Daily and Weekly charts. The price is already above the neckline and has been sustained there. Good opportunity for going long with a stop below the right shoulder.
📊 Script: TATACOMM (TATA COMMUNICATIONS LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: NIFTY 500 / NIFTY MID CAP
📊 Sector: Telecommunication
📊 Industry: Telecom - Infrastructure
Key highlights: 💡⚡
📈 Script is about to give cup & handle breakout, technically script is looking good for long term investment.
📈 One can go for Swing Trade.
⏱️ C.M.P 📑💰- 1258.95
On weekly timeframe the price has given breakout from the trendline. The MACD on weekly basis is also bullish. And RSI is also above 50 which shows good momentum. The prices has crossed the moving averages and is above all the moving averages which shows bullishness. The stock has outperformed NIFTY for 2Y timeframe. This view is for 6 to 12 months....
NSE:TATACOMM completed the rounding bottom over last 5 months. Yesterday there was a breakout. Today, with the market, it's re-testing the neckline around 1245.
Per the price-prediction over next month, it seems there will be some consolidation throughout next week and there can be a breakout towards 1342 / 1438. SL to be : 1175.
TATA COMMUNICATIONS good for swing trade. because it broke trendline
TATA COMMUNICATIONS stock trendline is broken and buy on breaking the high of todays candle
buy 1150 and sp 1060 and 1st target is1207 2nd target is 1265
📈 TATA Communication 📉
This Stock Broke out from a consolidation zone of 1100-1200 of a month inside this range on upside with a strong green candle.
This can be a stock for long ride.
Bias - Long
Target - 1268, 1313, 1485 and 1558
SL - 1100
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look...
Tata communication bullish view with a small SL below 1255, reason: if SL gets hit will wait for another opportunity around 1200 and lower in a buy in parts strategy, for now will buy with a bullish expectation from here.
TATACOMM Formed a triangle pattern. Wait for proper breakout and retest and based on that, one can look for entries.
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