TTML holding great promise on the charts: Devang Visaria

Devang Visaria, Chief Strategist, devangvisaria.com advises on Tata Teleservices stock, in a chat with ET Now.

Are the chart patterns encouraging in TTML?

Devang Visaria: Chart patterns are very encouraging. Right now the stock has just tested its 200 day moving average but it could just take a small breather from this one and downside do not seem to be capped closer to 22.5-22 levels. Weekly charts are very interesting. In fact, you are having a break of resistance trend line which has been holding this downtrend since 2009 levels. This could be a potentially rallying to around 30 levels but 22 would be the key level on the downside and you have a good risk reward ratio on this. Possibly look to buy at current levels, again on any dip to 23 and keep a stop below 22.