Tejas Networks Ltd: Looks good for a trade
Tejas Networks Ltd. looks good for a short/medium term trade basis price action.
Good support along the trendline and weekly closing above the 40MA.
Price might see some tightness in the range between 640-679. Wait for price to close above 679. However, can see good momentum above 680 with initial target of 716. Based on further price action will need to evaluate price range.
570 can act as a good support zone.
Note: Not a buy/sell recommendation. Do consult your investment advisor.
Good support along the trendline and weekly closing above the 40MA.
Price might see some tightness in the range between 640-679. Wait for price to close above 679. However, can see good momentum above 680 with initial target of 716. Based on further price action will need to evaluate price range.
570 can act as a good support zone.
Note: Not a buy/sell recommendation. Do consult your investment advisor.