Stock of the day : Buy 900 PE Tata Chemicals Ltd For Target Rs.24 - Religare Broking
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TATACHEM
* Tatachem has been witnessing correction for the last four months, after making a new record high at 1214.90 levels.
* It has made multiple attempts to reclaim the major moving average(200 EMA) but couldn’t succeed.
* It has formed a fresh shorting pivot after a failed attempt. Looks set for a decline.
* We thus recommend creating fresh shorts through the Put option.
Technical Chart : Daily
Buy Tata Chemicals Ltd CMP: 14 Range: 9-11 SL: 5 Target: 24
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