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Published on 30/10/2020 11:42:28 AM | Source: Motilal Oswal Financial Services Ltd

Buy Tata Consumer Ltd For Target Rs. 520 - Motilal Oswal

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Technical Trading Idea

* FMCG counters are in flavour from last few days and showing tremendous strength. Tata Consumer gave a breakout from the Falling Wedge pattern on daily chart and sustaining well above the same. 5 DEMA is in verge of giving positive crossover with 20 DEMA, which will be a positive sign for the counter. RSI oscillator also gave a trendline breakout and moving well above the same, indicating strength in the counter.

* Considering current chart structure, we advise traders to buy the stock for an up move towards 520 with stoploss of 478.

 

Buy Tata Consumer Product Ltd @ 2-3 Days CMP 492 TGT 520 SL 478

 

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