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Bullish on Tata communications, bearish on EIL, says Angel Broking
Recently, this stock underwent a strong corrective phase as we saw massive price erosion of more than 20% in merely two months. This coincides with the weekly '89 EMA' level and hence, can be considered as a major support in the near term. In last two sessions, the stock prices have been bouncing back from lows and have formed two narrow range candles. On Friday, the stock managed to give a decent pullback move, which should ideally be used as a selling opportunity.
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