Abhijit_Paul

TATACHEM: Triangle Breakout

Long
NSE:TATACHEM   TATA CHEMICALS
TATACHEM breaks out of a COIL (a symmetrical triangle) with fine participation from volumes. Add to this fact, that on the daily chart , there was an Inside Candle on Friday's close. The underlying trend is UP and well established, which is clear from MACD . Fine support from momentum indicators too - CCI and RSI suggests further upside on the cards. Looking for a target of 770-775 on a positional basis.

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