Trading Idea: Tata Coffee – BUY
CMP Rs430, Target Rs550, Upside 28.2%
Tata Coffee after hit an all time high of Rs474 in June and the stock has retraced nearly 50% of the intermediate uptrend which resumed May'10, providing decent opportunity for accumulating the stock at current levels. As the correction unfolded into a classic zig zag formation, we expect wave 3 of intermediate degree is likely to begin from hereon and travel 1.61 times of wave 1.
Please click below on the link to view the attachment.
http://content.indiainfoline.com/wc/research/researchreports/Tata_Coffee_190710.pdf
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