After nearly 96 percent rollover from the November series, in the first 5 days of the December series, Tata Consumer Products has risen about 8 percent. With that, it’s nearly 5 percent away from its previous all-time high and above all the moving averages as well. Delivery volumes have picked up as well.
The company management, in interaction with CNBC-TV18 last week, said there is predictability in tea prices -- 'predictability' is the second ‘P’-letter word that the Street likes after profits.
One also needs to keep an eye on the Rs 600-mark for the stock – that could be a speedbump given that there are a lot of calls written but were the stock to cross the Rs 600 mark, these calls will see some short-covering.
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