BUY TATACONSUM NEAR Rs 830 | TARGET: Rs 890 | STOP LOSS: Rs 800
During the recent trading session, TATACONSUM confirmed a range break above Rs 830-mark. The pattern resembles a cup and handle shape, as well as an inverted head and shoulder. The price action was supported by huge volumes. Thus, we advise traders to buy the title near Rs 830 for a target of Rs 890 in the coming sessions.
SELL INDUSINDBK NEAR Rs 1,120 | TARGET: Rs 1,040 | STOP LOSS: Rs 1,160
Recently, INDUSINDBK stock moved from the Rs 800 area to Rs 1,100 without any significant correction. Right now, we are seeing a four point negative divergence on the daily RSI indicator (14). This indicates the possibility of some profit reservation. Thus, we advise traders to sell the title near Rs 1,120 for a target of Rs 1,040 in the coming sessions.
Disclaimer: Mehul Kothari is AVP – Technical Research at Anand Rathi Shares & Stock Brokers. Views are personal
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