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    Stock Radar: Tata Communications takes support above 50-DMA; likely to surpass 2,000 level

    Short-term traders can look to buy the stock for a bounce back towards the record high of around Rs 1,956 and if the momentum continues, the stock could surpass the 2,000 level, observed experts.

    Synopsis

    Tata Communications is a leading telecom company helping businesses power hyperconnected ecosystems. It is present in over 190 countries around the world, company data stated. The stock witnessed price-wise correction, which took it towards the 1,500 level in October 2023. It bottomed out above 1,500 and started inching higher.

    Tata Communications Ltd, a part of the telecom space, has been consolidating after hitting a record high in September 2023 but a recent bounce back from its 50-DMA on the daily chart suggests that the momentum could continue.Short-term traders can look to buy the stock for a bounce back towards the record high of around Rs 1,956 and if the momentum continues, the stock could surpass the 2,000 level, observed experts.The stock hit a fresh record
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    The Economic Times