Tata Communications Ltd - Technical Analysis
🎯 **Potential Reversal Opportunity Identified!**
The price action for Tata Communications Ltd suggests the possibility of a strong reversal from critical support levels. Here’s the detailed analysis:
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### 🔍 **Key Highlights from the Chart:**
1️⃣ **Support Zone in Focus:**
- The stock has formed a strong support base near ₹1,686.75, which aligns with previous demand zones.
- Multiple tests of this level indicate sustained buying interest and its significance in maintaining the uptrend.
2️⃣ **Momentum Indicators:**
- Trading near the 50-day Moving Average, showing potential stabilization after a corrective phase.
- The bounce from support indicates the possibility of upward momentum in the coming sessions.
3️⃣ **Next Potential Levels:**
- **Upside Target:** If the reversal continues, the stock could potentially test ₹1,800–₹1,850 as the next resistance zone.
- **Downside Risk:** Failure to hold above ₹1,686.75 may open the door for further downside towards ₹1,650.
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### 🚨 **Risk Management Reminder:**
- Place stop-losses below ₹1,670 to manage risk effectively in case of high volatility.
- Monitor volume for confirmation of a breakout or further accumulation near current levels.
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🔥 **Conclusion:**
Tata Communications is at a critical juncture, with signs of a reversal brewing at key support levels. A breakout above ₹1,750 could set the stage for significant gains in the near term. Traders should stay alert for confirmation signals and act accordingly.
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