The Core Idea: Breakout Confirmation & Trend Continuation
The Weekly chart for TATACOMM displays a highly bullish structure. After a prolonged period of consolidation/minor correction, the stock has recently experienced a decisive breakout from a key psychological and technical resistance zone, which now acts as a strong support. The overall trend, supported by the moving averages, remains firmly bullish, suggesting a continuation towards new all-time highs.
📈 Technical Analysis: What the Chart Says
Massive Breakout: The most recent price action shows the stock breaking out above its previous all-time high/major resistance zone around the ₹1,900 level. This is a very strong signal of renewed buying interest and trend strength. 2. Uptrend Intact: The price is trading well above key moving averages (e.g., 50-period and 200-period Weekly MAs), confirming the long-term bullish trend.
🎯 Trade Recommendation: Long Position
Action: BUY (Long Entry)
Entry Zone: ₹1900 - ₹1925 (Buy on minor dips towards the previous resistance-turned-support or enter at the current price).
Target 1 (T1): ₹2050 (Psychological resistance and in line with near-term analyst consensus)
Target 2 (T2): ₹2175 - ₹2200 (Based on past all-time high and a 1.272 Fibonacci extension target from the consolidation range)
Stop-Loss (SL): ₹1800 (A critical level below the recent breakout zone and major support confluence. Maintain strict discipline.)
Risk/Reward Ratio (R:R): Entering at ₹1920, with a Stop-Loss at ₹1800 (120 point risk) and Target 2 at ₹2200 (280 point reward), the R:R is approximately 2.33:1, which is favorable.
📝 Key Takeaway
TATACOMM has demonstrated significant strength by confirming a major technical breakout on the weekly chart. Given the overall positive market structure, the stock is poised for a bullish continuation. Traders should look for opportunities to enter with a clear stop-loss to manage risk effectively.
Disclaimer: This is a technical analysis idea for educational purposes and should not be considered financial advice. Always perform your own research and consult with a qualified financial advisor before making any investment decisions.
The Weekly chart for TATACOMM displays a highly bullish structure. After a prolonged period of consolidation/minor correction, the stock has recently experienced a decisive breakout from a key psychological and technical resistance zone, which now acts as a strong support. The overall trend, supported by the moving averages, remains firmly bullish, suggesting a continuation towards new all-time highs.
📈 Technical Analysis: What the Chart Says
Massive Breakout: The most recent price action shows the stock breaking out above its previous all-time high/major resistance zone around the ₹1,900 level. This is a very strong signal of renewed buying interest and trend strength. 2. Uptrend Intact: The price is trading well above key moving averages (e.g., 50-period and 200-period Weekly MAs), confirming the long-term bullish trend.
🎯 Trade Recommendation: Long Position
Action: BUY (Long Entry)
Entry Zone: ₹1900 - ₹1925 (Buy on minor dips towards the previous resistance-turned-support or enter at the current price).
Target 1 (T1): ₹2050 (Psychological resistance and in line with near-term analyst consensus)
Target 2 (T2): ₹2175 - ₹2200 (Based on past all-time high and a 1.272 Fibonacci extension target from the consolidation range)
Stop-Loss (SL): ₹1800 (A critical level below the recent breakout zone and major support confluence. Maintain strict discipline.)
Risk/Reward Ratio (R:R): Entering at ₹1920, with a Stop-Loss at ₹1800 (120 point risk) and Target 2 at ₹2200 (280 point reward), the R:R is approximately 2.33:1, which is favorable.
📝 Key Takeaway
TATACOMM has demonstrated significant strength by confirming a major technical breakout on the weekly chart. Given the overall positive market structure, the stock is poised for a bullish continuation. Traders should look for opportunities to enter with a clear stop-loss to manage risk effectively.
Disclaimer: This is a technical analysis idea for educational purposes and should not be considered financial advice. Always perform your own research and consult with a qualified financial advisor before making any investment decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.