Tata Consumer Futures have been on a run for the past few days and this is one of the stocks you have to keep your focus on!!
In an entertaining turn of events, the US chipmaker Nvidia Corp who most gamers will know as the graphics card developer has announced separate partnerships with Reliance and Tata group companies to help them develop AI power supercomputers, AI clouds and generative AI applications.
Tata Communication Ltd will be building an AI cloud for its client and TCS will also be using Nvidia’s AI computing infrastructure to develop generative AI applications for its clients.
On 7th September, Tata Communication hit a fresh 52-week high during several rounds of deals and a few stocks have been owned by Rekha Jhunjhulwala’s portfolio. Previously Tata communication shares have been in uptrend since October 2022.
Back in August, Tata Communication also announced the opening of its cloud-based, worldwide 5G Roaming Laboratory. This would potentially allow Mobile Network Operators (MNOs) to test 5G standalone network use cases before rolling out services to their customers, the company had iterated in an exchange filing.
Technical Outlook:
TATACONSUM FUT CMP – BUY AROUND 885 | STOP LOSS – 855 | TARGET – 930 | CMP – 884
TATACONSUM FUT – Bullish
TATACONSUM FUT has broken out of a rounding bottom price pattern. The price is trading above the 50-day and 200-day simple moving average (SMA), indicating a bullish trend.
The relative strength shows a significantly strong bullish momentum.
Our analysts believe that it’s anticipated to achieve a target of 930.
Duration/ Holding Period – 3 to 15 days
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