TATA CHEMICAL ANALYSIS

A Clear Inverse FLAG & POLE Pattern is visible on the chart of TATA CHEMICALS STOCK on 1 DAY Time Frame.

• Inverse Flag & Pole chart pattern is bearish pattern formation that signals a downtrend in the price on the chart. It is the opposite chart pattern of Flag & Pole which is a Bullish Chart Pattern.
  
  
• Profit Targets in an Inverse Flag & Pole are typically targeted using the distance of 1st Flag & also called as price objective. The Flag is the consolidation phase in the stock price. The price may continue the following pattern by breaking the support and declining below further. The Target's below are calculated by replicating the 1st Pole to the point where the price started to fall making it the 2nd Pole & also called as the price objective for upcoming target.
  
  
• Seeing the Technical Aspect this pattern indicates a correction in the Stock Price of more than 15%. The price may or may not correct as mentioned above but the chart shows this indications. The reason of falling prices can be Bad Performance of the Stock in Fundamentals or The Overall Market Trend.
  
  
• Important Levels To Watch as Support & Resistance
  Support Level 1 - 925 to 928 Resistance Level 1 - 1000 to 1003
  Support Level 2 - 875 to 878 Resistance Level 2 - 1050 to 1065
  Support Level 3 - 780 to 785 Resistance Level 3 - 1080 to 1095
  

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