|Buy Range||205 – 210|
|Target||225 – 240|
|Duration||20 – 25 Trading Sessions|
|Potential Return^||9 – 16%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|206.3||BUY||205 – 210||225 – 240||193||20 – 25 Trading Sessions||9 – 16%|
# CMP on May 02, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 216.
^ The returns are calculated based on CMP#
Headquarters in Kolkata, Tata Global Beverages, earlier known as Tata Tea is a joint venture of James Finlay and Tata Tea and coffee, engaged in the trading, production and distribution of tea, coffee and water. The company owns a portfolio of brands in tea, coffee, and water such as Tetley, Tata tea, Vitax, Grand coffee, Eight O’clock, Chakra Gold, Kanan Devan and Himalayan and have the world’s second largest branded tea operations with a presence in 40 countries along with Tetley. In quarter ended March 2019, the company reported net profit dropped 41.48% year-on-year to Rs 22.90 crore.
|Sectoral Index||Nifty FMCG|
TECHNICAL OBSERVATIONS (WEEKLY)
- The share price of Tata Global Beverages witnessed a sharp decline during 2018-2019, falling from a lifetime high of ₹ 328.75
- On a weekly chart, the stock has been trading with it’s upward rising trend line since last few months and it seems that it could continue with its ongoing move.
TECHNICAL OBSERVATIONS (DAILY)
- Stock is extended its northward journey post a crucial weekly break-out we had seen in earlier chart.
- Overall trend and the broader pattern are bullish and any reactive pullback might be a good opportunity to go long.
- Higher Tops and Higher Bottoms at Daily Charts.