Tata Chemical is paused at 780 levels. If it breaks the resistance of 800 then a long term target can be placed at 1000 levels with a stop loss of 710 which also deemed to be strong support. We can even wait for the stock to perform a retest at support levels to buy it at a discounted price.
isn't this a head and shoulder pattern. So can we expect a bearish pattern?
sundar_trader_96
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this forms h&s pattern and double bottom . which pattern will u give more importance?
Saket_Ojha
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@sundar_trader_96, It is evident that it is getting weaker at its support level which increases the chance of reversal so the double bottom is more important.
mohit19906
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It has broken the support level and currently at 703.
nageshkaudgaonkar
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TECHNICALY GOOD AND though result was bad future is good. they have acquired key mining's materials in Bolivia. They will supply majority automobile rechargeable batteries. Good for long term..
sethuramcbe
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it will go up , fundamentally still cheap , 2x minimum. 680-710 is accumulation
chitanidileep
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@sethuramcbe, it is highly overpriced as per my analysis, correct me if i am wrong
Sunny1103
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Results are not good, do you still think it will go up?
Saket_Ojha
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@Sunny1103, I have done only Technical Analysis. For short term trading, you don't require fundamentals.
yashdeep877
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@Sunny1103, I think it will follow a bearish trend