Was moving within a channel till MAY but has broken that support level, now a crucial support level of 505 is broken. Now 440 can be seen on the charts. That also pretty soon.
Long if it breaks the high of the previous week with a stop loss at the previous week's low.
Short if it breaks the low of the previous week with a stop loss at the previous week's high.
Sell Tatacomm on rise with SL of 625 and target of 565. A confirmation on RSI has been obtained. A convergence on MACD is on the cards. One can book profits on long positions.
It is encountering very high resistance line when drawn from historical data.
High RSI, and high slow stochastics supports shorting.
This is my individual opinion . Not an investment suggestion
Downside Target 550
After making double top near 623 odd levels on hourly charts stock is falling. It has noticed a bearish crossover on hourly charts too. On daily charts it notices a bearish engulphing pattern. Stock looks good to short positionally for a target of 590/567/550 in short term. Maintain positional stoploss of 625 on closing basis.
TATACOMM LOOKING BULLISH ON CHART, REVERSE FROM LOWER LEVEL, BUYING CAN BE POSSIBLE ABOVE INITIAL RESISTANCE LEVEL.
Levels are mentioned on chart.
Open to discuss here.
we believe that discussion will bring more informative information for the same.
For more ideas. please keep in touch and follow us
Thanks!!
Tata Communications Limited provides telecommunication services. The Company's segments include Voice Solutions (VS), and Data and Managed Services (DMS). The VS segment includes international and national long distance voice services. The DMS segment includes corporate data transmission services, virtual private network signaling and roaming services, television and other network and managed services. It offers international and national voice and data transmission services, selling and leasing of bandwidth on undersea cable systems, Internet dial up and broadband services, and other services comprising telepresence, managed hosting, transponder lease, television uplinking and other services. It serves two customer segments: service providers and enterprise customers. The Company classifies its operations into business segments, including global voice solutions, and global data and managed services.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
TATACOMM
