OUR RECOMMENDATION
| CMP# | 210.05 |
| Idea | SELL |
| Sell Range | 215 – 210 |
| Target | 198 – 195 |
| StopLoss* | 220 |
| Duration | 15 – 20 Trading Sessions |
| Potential Return^ | 6 – 7% |
| CMP# | Idea | Sell Range | Target | StopLoss* | Duration | Potential Return^ |
| 210.05 | SELL | 215 – 210 | 198 – 195 | 220 | 15 – 20 Trading Sessions | 6 – 7% |
# CMP on Jan 03, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 204.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
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 the quarter ended September 30, 2018, the company reported net profit dropped 6.37% QOQ to Rs 125.09 crore.
| Stock Data | |
| NSE Code | TATAGLOBAL |
| Sectoral Index | Nifty FMCG |
| 52W High | 328.75 |
| 52W Low | 195 |
| Face Value | 1 |
TECHNICAL OBSERVATIONS (WEEKLY)
- The share price witnessed a strong rally during 2017-2018, rallying from ₹ 120 to lifetime high of ₹ 328.75
- After the lifetime high, the stock had been moving in lower top and lower bottom formation since last one year indicating negative bias.
- Overall trend and the broader pattern are bearish and any reactive pullback might be temporary in nature.
TECHNICAL OBSERVATIONS (DAILY)
- The stock price has slipped into sharp decline during this week and breakout below the trend line indicates a negative sign.
- The price closed below 10 and 5 days Moving average crossover which considered bearish and helps to propel further downside movement.
