Stock Picks - Buy Tata Coffee Ltd For Target Rs.270 - ICICI Direct
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Technical Observations
* The share price of Tata Coffee remain in strong up trend forming higher peak and higher trough in all time frame.
* The stock is at the cusp of generating a breakout above the last 12 weeks range (| 246-179) signalling strength and offers fresh entry opportunity
* It has recently witnessed strong buying demand from the support area of | 180-200 being the lower band of the rising channel in place since May 2021 and rising 10 weeks (currently placed at | 214) highlighting positive price structure
* The weekly MACD has generated a buy signal moving above its nine periods average thus validates positive bias
Buy Tata Coffee Limited @ 244.00-250.00 TGT 270 SL 233
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