TATA COMMUNICATIONS
- As per previous report published on TATA COMMUNICATIONS stock gave sharp up move after touching its major support mentioned in previous report. Stock moved up from 336 and so far stock is on bull move and made a high around 380 till now. (Click here to see previous report published on TATA COMMUNICATIONS).
- Now current chart indicates that stock is moving up from 50% fibonacci retracement support zone, as shown in graph no1, This will favor bulls to take stock further up.
- As per graph no2, Stock is also moving up from 100 days moving average , so as long as stock trades above 100 DMA it will be favored by bulls. Even stock major trend indicator "MACD" and "stochastic oscillator" is moving in +ve zone , this indicates that stock can move up from current levels.
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- As per technical chart 3 stock has now closed above its golden ratio resistance 61.8% fibonacci retracement, so as long as it trades above further up trend is expecting. and on upper side will find next resistance around 393 and 412 stock previous top. Chart also indicates Stock gave bull really with good volumes, this indicates bull still have grip in TATA COMMUNICATIONS.
- Suggested Reading - BPCL moving up from strong support , further up trend is expecting as long as trades above.
- As per graph no4, stock weekly chart indicates that it is moving up from 20 weeks moving average, this will favor short -long term traders as long as stock trades above.
- Click here to see all the free trading reports (tips) published by us on TATA COMMUNICATIONS.
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Nice Article. Thank you for sharing the informative article with us.
ReplyDeletesmall-cap
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