Jayant ManglikReligare Broking
Tata Chemicals has been trading in a broadening formation (which acts as a continuous pattern) around its record high for the last nine months. It has recently tested the upper band of the pattern and witnessing profit taking now.
We believe it’s an excellent buying opportunity and traders should utilise this phase to accumulate fresh longs in the given range of Rs 730-740 for target of Rs 780. It closed at Rs 747 on September 10, 2018.
Disclaimer: The author is President, Religare Broking. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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