The short-term outlook is bullish for Tata CommunicationsThe stock has been moving up very well since the beginning of this month. The share price has risen over 4 per cent so far this month. Cluster of supports are there in the ₹1,850-₹1,800 region. Fresh buyers are likely to come into the market near this support zone and limit the downside. Moving average cross overs also strengthens the bullish case.
Tata Communications share price can rise to ₹2,080 over the next two-three weeks. Traders can go long now at around ₹1,909. Accumulate on dips at ₹1,865. Keep a stop-loss at ₹1,780. Trail the stop-loss up to ₹1,930 as soon as the stock moves up to ₹1,960. Move the stop-loss further up to ₹2,010 when the price touches ₹2,045. Exit the long position at ₹2,080
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)