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