The short-term outlook for the stock of Tata Coffee is bullish. The stock surged over 4 per cent on Thursday and closed on a strong note. The rally has taken the stock well above a key resistance level of ₹225 which will act as a strong resistance-turned-support. Below that ₹220-₹219 is the next important support. The chances are high for the stock to sustain above ₹225 itself.
A rise to ₹250 can be seen over the next two-three weeks. Short-term traders can buy Tata Coffee now. Accumulate on dips at ₹226. Keep the stop-loss at ₹218. Trail the stop-loss up to ₹235 as soon as the stock moves up to ₹242. Move the stop-loss further up to ₹243 when the stock touches ₹246 on the upside. Book profits at ₹248.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.