Tata Global is one stock that has frustrated traders and investors like crazy. It has been more than 2 years now that stock has done nothing except hanging on to 100 week moving average.
Here's the Weekly Chart
Based on the chart above: there are two observations one can make -
1. The stock has a well defined resistance at 175. Sooner or later - stock will break that level
2. The stock has always defended 100 week moving average on the downside.
Based on the above two observations - One can Go Long between 152-155 and Hope that eventually stock will break past 175. The stop loss should be below 150 on closing basis.
Can you believe it - I covered Tata Global on August 11 on similar lines and stock is still testing everyone's patience.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers