TATACOMM : A closer look Technically
Tata communications, seems to have given a breakout technically. The 30 DMA for the Stock is 486.25, 50 DMA is 488.99, 150 and 200 DMA’s are 499.01 & 489.4. As mentioned above the stock faces strong resistance around 495 levels, and can give a good bounce once it manages to cross that level.
Technical Chart for TATACOMM (Click to Enlarge)
On Monday, the stock managed to close above its 30, 50 and 200 DMA, which indicates that its heading in a bullish zone.
The stock is in neither in a oversold nor a overbought region, having a RSI of 54. Moreover it also saw a good buying interest on Monday which caused it closed up 3.36% or 15rs.
A good close above the resistance level could head the stock towards 520-530 levels.
Tags: closer look technically, nse bse tips, tata communication, technical view on charts
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