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        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 ?

 Technical Outlook:

  • 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.

 The power of simple patterns along with the application of [P] square Elliot Waves will provide the objectivity and power to use. Hence, the combination of multiple tools and appropriate risk and money management strategies is key to successful trading.

 Thus, there is a big STAR trading opportunity in short, medium and long term coming up for the stock.

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