 "Bullish on Tata communications, bearish on EIL, says Angel Broking")
Top technical calls from Sameet Chavan, Chief Analyst- Technical and Derivatives of Angel Broking:
Tata Communications
View – Bullish
Last Close – Rs. 587.95
Recently, this stock underwent a strong corrective phase as we saw massive price erosion of more than 20% in merely two months. Now, the stock has reached its multiple historical support zone of 580 – 585. This coincides with the weekly ’89 EMA’ level and hence, can be considered as a major support in the near term. In last two sessions, the stock prices have been bouncing back from lows and have formed
Tata Communications
View – Bullish
Last Close – Rs. 587.95
Recently, this stock underwent a strong corrective phase as we saw massive price erosion of more than 20% in merely two months. Now, the stock has reached its multiple historical support zone of 580 – 585. This coincides with the weekly ’89 EMA’ level and hence, can be considered as a major support in the near term. In last two sessions, the stock prices have been bouncing back from lows and have formed
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