Tata Global is one stock that has frustrated traders and investors like no other stock. The worst part: stock has not broken down and hence people have not given up and that's what explains people's frustration. Asha abhee baaki hai.
Here's Tata Global Weekly Chart
Tata Global stock made a Large Candle move in Feb 2012 when it rallied to 120. Post that move, it pulled back to 100 week ma and then it rallied to 175 by Nov 2012. It was a 70% move. But post that large move - stock has locked itself in a range between 100 week ma and 175.
The stock is once again at 100 week ma
Will this become a launch pad for breakout above 175? Well, we will see. Any investment position here should have a stop loss below 145.
Nobody knows, how long stock will remain in a range.
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