Tata Global Daily Chart (30 October 2018)
Can Q2 results bring cheer for Tata global
Tata Global Beverages going to announce Q2 results today.
- Can the results bring back the cheer on the stock ??
- would it be a tragedy for the stock is the question for investors ???
- What does charts tell the story ??? Is the consumption story still intact ???
- Another question to ask is, Is it the right time to invest in stock ?
- Tata Global Beverages seems to have completed complex zigzag correction, now in consolidation range of 30 points.
- The stock has retraced 50% of the impulse Wave III rally from 120-330, now forming an higher bottom for first time after long period.
- Therefore considering the higher bottom formed for the stock after long period now it’s poised for a revival northwards could be possible.
- Besides the falling wedge price pattern forming as shown in chart above on breakout could be a long term bullish for the stock.
- The stock is also hinting the early signs of completion of completion of complex correction as per Elliot wave counts. Some of the Elliot Wave counts and techniques are intentionally excluded in charts.
Could stock turn out to be a multi-bagger in the coming months ahead ???
Rather, here one needs to keep your fingers crossed until Q2 results for two stage confirmation. While, a cross above _ _ _ stock could give excellent returns.
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