Tata Consumer Bullish View - Positional trading (Daily Chart)
Tata Consumer has been moving within a channel, taking support at (1) red lines drawn and (2) 50 EMA. Target would be at the upper range of the channel.
Fundamentally, the company has demonstrated decent quarterly performance with higher sales as well as higher profits at a consolidated level, though gross margins have been impacted by higher tea prices. But this pressure on margins could remain short-lived. The company has been able to mitigate the margin pressure through volume expansion and better product mix along with a tight control on other expenses. Going forward, I expect the fundamentals to remain strong. The charts provide a good entry level as well.
Fundamentally, the company has demonstrated decent quarterly performance with higher sales as well as higher profits at a consolidated level, though gross margins have been impacted by higher tea prices. But this pressure on margins could remain short-lived. The company has been able to mitigate the margin pressure through volume expansion and better product mix along with a tight control on other expenses. Going forward, I expect the fundamentals to remain strong. The charts provide a good entry level as well.
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