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
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.
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TATACOMM
