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Momentum Pick - Buy Tata Communications Ltd For Target Rs. 1300- HDFC Securities 

Tata Communications is in an intermediate uptrend since May 2020 when it took out its previous intermediate highs and reversed the downtrend. The stock has since then gradually moved higher and made higher tops and higher bottoms.

Over the last few weeks, the stock has been consolidating in a tight range between the 1052-1144 levels. Today, the stock broke out of this range on the back of healthy volumes. This augurs well for the uptrend to continue.

Technical indicators are giving positive signals as the stock is trading above the 20 day and 50 day SMA. Momentum readings like the 14-day RSI too are in rising mode and not overbought, which implies potential for further upsides.

With the technical set up looking attractive on all major timeframes, we expect the stock to gradually move higher in the coming weeks.

Our entry levels with stop loss and targets have been mentioned above

Buy Tata Communications Ltd Up to 1-3 Months @ Buy between 1133-1157 CMP 1144.8 TGT 1300 SL 1100

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