Sell Tata Global Beverages Ltd between CMP & Rs.150.50 ::HDFC Securities

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Current Observation:
 The Tata Global Beverages Ltd has been continuously holding on the support of ascending trend line (green line) in
the last few months and that support has been broken on the down side during mid of Dec-14.
 The upward bounce back of the last one month seems to have ended around the resistance of previous broken up
trend line around Rs.154 levels as per the concept of change in polarity. Hence one may expect continuation of
weakness from here.
 The new lower top has been formed in last session around Rs.154.50 and the theory of LT & LB signals more
weakness in this stock for a short to near term.
 Daily momentum oscillator like 14 period RSI showing negative signal, which is indicating a weak upside momentum.
 Negative chart pattern and the momentum are signaling for sell trade in Tata Global Beverages Ltd for near term.

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3010574