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MTF Stock Pick Buy TCI Express Ltd For Target Rs. 1653 - HDFC Securities 

TECHNICAL OBSERVATIONS

TCI EXPRESS is in strong uptrend on Major time frame. After making a life high on 9th June 2021 it started correcting and halted near 1385 levels which also coincide with 38% Fibonacci retracement level drawn by connecting low of 940 to high 1624.

It also took multiple support at 1385 level and today (05-07-2021) it resumed its upward momentum along with huge volumes.

RSI 14 on the daily time frame has broken out from the falling trend line which suggest that stock could move higher in the near term.

+DMI crossover is observed on the daily chart which indicates that bulls are in control.

Primary trend of the stock has been bullish as stock has been forming higher tops and higher bottoms on the daily and weekly charts

Stock is placed above medium to long term moving averages, indicating bullish trend on all time frames

Buy TCI Express Ltd Up to 3 Months @ Average level 1427 CMP 1503 TGT 1653 SL 1392

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