Only a few stocks can turn around from a persistent long-term bearish trend. Such stocks often end up giving record-breaking returns to investors. Tata Teleservices Ltd (NS:), earlier known as Tata Telecom, is one such stock. It ended up rallying all the way from 2 rs to 200 rs !!
That’s almost 10,000% returns, within a period of just 2 – 3 Years! Take a look at the Price Action outlook on the 1M Chart.
Tata Teleservices Ltd – Price Action Analysis on Monthly Time frame
For almost 12 years, Tata Teleservices ltd was in a structural downtrend. It has been a consistent selloff since the beginning of 2008.
But from the beginning of 2020, the stock prices went on an upward trajectory, rallying all the way from 2 Rs to 200 Rs.
As of now, we can see a mild retracement in stock prices. Is it due for a correction? Or will it rally further? What’s your thought? Share your input in the comments.
Keep an eye on the Price Action; it will be interesting to watch! If you want to learn more about the strategy, check out the video below.
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