Tuesday 27 September 2016

Tata Global Beverages Ltd – Ascending Triangle Breakout

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Tata Global Beverages Ltd on a daily & weekly chart stock price is making higher highs and high lows pattern with increase in volume, indicate positive outlook for the stock price. On a daily chart stock price has given the breakout at Rs.144 of ascending triangle pattern and its closed above the same, indicate ongoing rally will continue towards north. Momentum oscillator MACD has given the positive crossover, which add more bullishness for the stock price.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 145 for the target of Rs. 158/166 levels, with Rs.138 stop loss on closing basis.


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