Tata Communications: Support Level Continues

TATA COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

The trading volume went back to its lower self today, while the price fell and closed at 247.

Market Outlook:

• The price is readying for a big move.  I talked about this looking like an accumulation phase on Friday, and today the same has continued.

Technical Indicators:

• There is a short term support line which is giving support to the stock price at the moment.
• Friday witnessed huge quantity in trading without a change in price.  That's suspicious behavior and the stock is surely readying for a big move.
• Most probably this is an accumulation phase, but it could even be getting ready for the next fall.  The answer should show itself soon.
• Tata Communications is in the midst of the 2G storm, btw, and the current price behavior is indicating that the management knows something which you and I are yet to find out, and should be finding out soon.  

TATA COMMUNICATIONS Daily NSE Stock Chart Technical Analysis

Tata Communications: Looks Like an Accumulation Phase

TATA COMMUNICATIONS Daily NSE Stock Price Technical Analysis:


The price remained range-bound today and closed without much difference.  Close & CMP: 250.65

Market Outlook:

• It seems like the worse is over for Tata Communications, which has been falling rapidly since mid-October.
• The seems to be increased interest in accumulating the share at its current price level.
• A rally seems to be in the offing, feel free to go long on price rise of this stock, with targets at 270 and 280.  But there is a chance this stock might cross 300 as well.

Technical Indicators:

• The price is consolidating sideways after a long fall.
• There has been very high interest in the share on Friday.
• Inspite of high trading, the stock value hasn't budged throughout the day, which is showing mixed signs of optimism and skepticism... in other words, an indecisive market with respect to Tata Communications.  
• The bulls seem to be finally wresting control from the bears, and the price could head upwards.

TATA COMMUNICATIONS Daily NSE Stock Price Technical Analysis