September 26, 2016
Tata Comm (NSE Cash)
SELL
` 545
` 524 - 528
` 487
5 - 10 Sessions
Daily Chart
Source: Falcon (Chart Time: 13:30 IST)
Justification:
The stock has recently outperformed the other stock in the telecom sector and has formed higher top higher
bottom. However, the ‘RSI’ oscillator has formed a ‘Negative Divergence’ in the recent upmove. Prices have
also formed a ‘Shooting Star’ pattern on daily charts, which is a trend reversal pattern if formed after an
upmove. Due to the above mentionedreasons, we are expecting a corrective move in the stock in near term.
Thus, traders are advised to sell the stock at current levels and on bounce up to `528 for a target of
`487 in next 5 - 10 sessions. The stop loss for the trade set-up can be kept at `545.
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September 26, 2016
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Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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