June 14, 2017
Tata Global (NSE Cash)
BUY
` 151
` 156 - 158
` 170
14 -21 sessions
Daily Chart
Source: Falcon (Time: 10:35 IST)
Justification:
After retesting its ‘Breakout’ trendline, the stock has rebounded piercingly and reached around its previous swing high. However,
we witnessed some time as well as price correction in the counter. The consolidation phase of last 8 trading sessions has resulted
into a formation of ‘Flag’ pattern on daily chart. Yesterday, the stock has given a breakout from the mentioned pattern with
healthy volumes. Also, the ‘RSI’ oscillator on daily chart is on the verge of giving ‘trendline’ breakout. Since, the moving
averages are placed positively along with above mentioned technical evidences; we expect a continuation in the northward
journey. Hence, we advise traders to buy this stock at current levels and on declines at `156 for a target of `170 over the next
14- 21 sessions. The stop loss should be fixed at `151.
Jay Kumar Purohit
022-3935 7600 Extn: 6844
[email protected]
1
June 14, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
Website: www.angelbroking.com
Email: [email protected]
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