|Buy Range||520 – 540|
|Target||600 – 625|
|Duration||20 – 25 Trading Sessions|
|Potential Return^||12 – 17%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|535.15||BUY||520 – 540||600 – 625||505||50 – 60 Trading Sessions||12 – 17%|
# CMP on Feb 22, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 565.
^ The returns are calculated based on CMP#
Headquartered in Mumbai and Singapore, Tata Communications is a truly Global company served across 38 countries, provide voice solutions, VPN, CDN, data transmission and broadband services. In Q3FY19 the company’s revenue had marginally improved 5% to 4269 Crore. There is an exceptional rise in net profit, a whopping 10,402% growth to 173 Crore in the bottom line for the same period.
TECHNICAL OBSERVATIONS (WEEKLY)
- The weekly chart indicates that after 2 years of downside movement, the stock has given the breakout of the downtrend line indicates positive sign.
- Weekly closing is above 13 Weeks & 26 Weeks Moving Average.
- Weekly ROC (20) remains in rising trajectory above 0, signalling continuance of the upward momentum.
TECHNICAL OBSERVATIONS (DAILY)
- The share price recently witnessed Three White Soldiers, rallying from ₹ 496.
- Since last six days, the stock had been moving in the higher top and higher bottom formation indicating positive bias.
- Daily closing above upper Bollinger Band showing further bullishness.
- The Daily RSI (14) crossed above 50, now came near 70 level which is a bullish zone.