TATA GLOBAL BEVERAGES
I wish to buy shares of Tata Global Beverages. Should I buy at the current price?
- Akshay Khanna
BUY AT CURRENT MARKET PRICE WITH STOP LOSS OF RS 192 ON A CLOSING BASIS
Tata Global Beverages is currently trading at Rs 219. Its 52-week high/low stand at Rs 328.80/Rs 205.75 made on January 15, 2018 and October 31, 2018 respectively. In recent times, the stock has been consolidating in a tight range near its support zone with relatively low volumes. The stock has two important support zones, one placed in the region of Rs 193-197 which is 200-week EMA that stands at Rs 193 and the second one is 61.8 per cent retracement support of entire upmove starting from December 27, 2016 to its all-time high. All indicators and oscillators are also consolidating in a tight range on both weekly and daily time frames. The 14-period RSI on the weekly scale has recently given positive crossover. Considering all above factors, the stock is currently trading above its crucial support zone of Rs 193-197, we recommend you to buy at the current market price with stop loss of Rs 192 on a closing basis.