VPA_TRADER

ACCUMULATION-CHANNEL-BREAKOUT-UPMOVE-VOLUME-PROFILE-1D-1W

Long
VPA_TRADER Updated   
NSE:TATACHEM   TATA CHEMICALS
Clearly we can see the volume profile and the accumulation regions.
During Mar-Apr-2020, a nice accumulation happened and then a nice momentum of upmove.

1. Now again a consolidation region since Feb-2021 has broken out of 830 price resistance level .
2. Moreover in the recent price action we can see a small upchannel , whose upper-trend line has also been broken.
3. The volume in this consolidation is similar to the previous accumulation, + breakout has given confirmation about the impending up-move.

Target-:
This has been determined which the help of Fib. Extension tools. The origin being the accumulation during Mar-Apr 2020 and current consolidation as the retracement region(other leg of Fib Extension)

Stop-loss-:
Clearly the support of the consolidation region can be used as stop-loss.
RR ratio is good enough and Stop-loss is not that wide.

NSE:TATACHEM

**Followers let me know if this post was too short compared to my previous ones. Please suggest if I should add more or if this is sufficient**
**Sorry for the gap and delay in posts**
Comment: Will post updates here.

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