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Tata Global Bev

Silver Member

6807 Messages

Following the crossover, the stock price retraced back and found support at the same moving average and resumed its uptrend which added more weight at the 50- day MA which can act as strong support going forward. After the continuation of the up move, the stock price retraced nearly 38.2% as per Fibonacci retracement. Such a consistent price movement indicates that the trend of the stock is bullish and the recent breakout from the falling trendline resistance at Rs 845 levels adds more weight for the stock to move up higher. Along with the breakout, there was an increase in volume which confirmed the bullishness in the stock.

9.17 AM Sep 14th
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