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