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Published on 11/01/2019 4:42:29 PM | Source: Choice Broking Pvt Ltd

Sell Tata Global Beverages Ltd For Target Rs.200 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Tea #Tata Global Beverages Ltd. #Trading Report #Choice Broking

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*  On a daily chart, the stock has sustained below 21 as well as 50-Days Simple Moving Averages which suggest a negative trend of the stock.

*  On an four hourly chart, the price has been moving near the lower line of “Symmetrical Triangle patterns”, which indicates downward breakdown in near term.

*  On an hourly chart, the MACD indicator has given negative crossover below base line which points out for a negative breath in the Stock.

*  A daily momentum indicator RSI reading is at 45.86 level with a negative crossover which points out for a negative breath in the stock.

* Based on the above technical studies, we are expecting an downside movement in the counter in few trading sessions.

Recommendation

Sell Tata Global Beverages Ltd Jan Fut @ 211.50-212.00 Stoploss 217.00 Target 200.00

 

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