NeeteshJain

Tata Chemical - Channel Breakout

Long
BSE:TATACHEM   TATA CHEMICALS LTD
It is been observed that the price action is ranging in a short term downward trend channel, which it breaks out from today indicating high buying pressure. Now, the price action shall reach out to 570 levels in order to form a double top .
Previously Tata Chem trending in a long term uptrend which gives a positive signal on this breakout. I would recommend to buy it after a correction as it shall minimize the risk of the position.

Target: 570
Stoploss: 525
Risk Reward: 1:1
Trade active
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