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NISM Certified Research Analyst & Mutual Fund Distributor.

Monday 20 May 2013

TATA COMMUNICATION 20513

THE COUNTER SEEMS TO BE IN FEW MANIPULATIVE HANDS AND DURING RECENT PAST IT SURGED WITH HUGE VOLUMES AND KISSED ITS RESISTANCE LEVELS OF 243. DURING LAST COUPLE OF SESSIONS THE COUNTER IS TRADING WITH NEGATIVE BIAS AND VOLUMES TOO WERE QUITE HIGHER. AS MENTIONED EARLIER THE COUNTER IS IN FEW MANIPULATIVE HANDS AND LOOKING AT THE CHART WE SENSE HEAVY DISTRIBUTION  HAS BEEN DONE ABOVE 234 LEVELS. WE ARE BEARISH ON THE COUNTER AND RECOMMEND SELL AROUND 224 WITH THE SL OF 234 TGT 203-197


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