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Tata Consumer Products’ share price has dropped in the past few sessions. After it broke out at ₹875 in early October, the stock was unable to build a sustainable rally. However, the overall trend remains bullish, and the recent decline has now brought the stock near the important support level of ₹875. A rising trendline also coincides with this level, making it a strong one. So, we expect the stock to see a rebound, especially on Thursday. We anticipate the stock to touch ₹910 intraday. Hence, one can buy the shares of Tata Consumer Products at ₹890 and accumulate if the price dips to ₹880. Place stop-loss at ₹870. Book profits at ₹910. In case the stock opens with a gap-up, wait for the price to dip to our recommended levels before buying. If it opens below ₹875, do not trade.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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