February 25, 2021
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Investors with a short-term horizon can buy the stock of Tata Coffee at current levels. The stock advanced 5.6 per cent accompanied by extraordinary volume on Thursday, reinforcing the bullish momentum. It now pauses, testing a key resistance at ₹118 with a positive bias. A conclusive break above this hurdle can take the stock northwards, strengthening the intermediate-term uptrend that has been in place since recording a low at ₹47 in March 2020. Within the uptrend the stock has been in a wide sideways consolidation phase in the band between ₹100 and ₹118 since August 2020. Recently the stock surpassed the 21- and 50-day moving averages and trades well above them. Both the daily and the weekly relative strength indices have entered the bullish zone backing the uptrend. Besides, the daily as well as the weekly price rate of change indicators have entered the positive terrain implying buying interest. The short-term outlook is bullish for the stock. It c
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Yoganand D
BL Research Bureau |
Updated on
February 17, 2021
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Investors with a short-term perspective can buy the stock of GIC Housing Finance at current levels. Since recording a 52-week low at ₹52.1 in March 2020, the stock has been on an intermediate-term uptrend.
Both medium as well as the short-term trends are up for the stock. After a corrective decline in early January this year, the stock found support at ₹113 in late January and bounced up. Since then, it has been in a short term uptrend. While trending up, the stock had breached its 21- and 50-day moving averages in the past week and trades well above them.