Thursday, May 8, 2008

Tata Tea Buy in dips CMP: 910.00 Tgt: 933-944

The daily candlestick chart of Tata Tea shows that it is correcting after a rise from
Rs.850 to Rs.944. For the past 3-4 times it has taken support from the trendline in
blue. High risk traders can gradually buy in declines around Rs.895-900 with
a strict stop loss below Rs.884 (preferably in close) for a pullback to Rs.933-
944 which if sustained on volumes can test Rs.976 (stop 872) in the next 3-4
weeks.
* Avoid gap openings and trade in cash in small quantities.

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