TATAGLOBAL possible profit booking tops in chart!
TATA GLOBAL BEVERAGE - SHORT TERM BUY for 333 Target
Tata Global Beverages Ltd almost 40% down from its 52 week high. It may continue its downward journey atleast 20% more from current price. Its PE ratio is also inline with industry PE ratio, which indicates uptrend from here will make this stock overly bought/ high price. Bottom fishing can be done starting from 150-160 range for a long term perspective.
RSI bottomed out and market shows strength to the upside. Market broke above the previous swings and took a position on the long side with stop at 270.