On monthly chart Tata coffee was consolidating from April 2011 to May 2012 forming narrowing triangle pattern (which is due to indecisiveness about the trend). After consolidation for a year it finally broke out in June 2012 ( this breakout will be confirmed if it remains there till the end of june 2012.) . Immediate target for such a breakout after long consolidation should be 1050 and medium term target should be 1200-1300.
Stop loss for short term should be at 840 and for medium term should be at 810
CMP- 906 as on 19 june 12
