HI ALLL
lots of unrest regarding tata teleservices. I had also posted regarding the targets of tata teleserv earlier in different thread. now if anybody could have seen the result they could easily understand the reason why this scrip is holding back. the company posted not so good rather very bad results for the last year and this quarter. so its quite obious that it's hard for this stock to overcome the shock atleast for the time being. now if we don't get any positive confirmatory news soon like korean firm increasing it's stake, expansion/diversification announcment or merger it might trade in this modest range of 28 to 30. the tough resistance of 33.60, which it touched on 20and then 25 july, seems difficult to cross this in near future.on daily charts a buy has now appeared but at the same time weekly charts are still correcting the AGM of the company was on 5th august and the details are still not available. there is no doubt that management must be trying every trick in the book to make the comapny turn around, but when will that happen no body knows.
thus two things come out from this.........
first,if already invested sit tight and keep a Stop loss of 28 and pray for some good events.though if it crosses 33.60 successfully the target seems to be around 37.00
second if trying to buy, be wise and don't enter till some real positive news trickles in!!!!!
after all it's your hardearned money so invest it intelligently......
regards
RAVI T