Apart from Tata Consumer, Tata Consultancy Services (TCS), Titan, Tata Motors, Tata Steel, and Trent have crossed the market cap of Rs 1 lakh crore. Earlier in December, Trent had become the fifth listed company of the Tata Group to achieve this feat.
Pennant is similar to a symmetrical triangle. They can be formed both in an uptrend or a downtrend. A Pennant pattern is a short-term consolidation that is formed after a swift rise in the prices of the underlying, which could be a stock or an index.
The FMCG stock hit a 52-week high of Rs 883 on 26 July, but failed to hold on to the momentum. It has been consolidating in a narrow range of 50 points since then. It has found resistance around the record high levels of Rs 883 while on the downside it found support above Rs 880 on the weekly charts since June 2023.