Tata Communication - Double bottom!

NSE:TATACOMM1D

TATA COMMUNICATIONNSE

Description

⋅ Aug 6, 2017 5:34 AM

Price action has formed double bottom. On breaking the downward trend line, price will continue its upside journey!

Comment

⋅ Aug 6, 2017 6:49 AM

Dear friends. I have analysed the chart, please write your trading plan in comment with entry, exit and stoploss. This is to encourage the traders to have their own trading plan. We will see, whose plan is good.

Trend Analysis

Comments

hotpot64

⋅ Aug 7, 2017 6:23 AM

Thanks for the call I have booked proifts at the moment, will look again to enter over 665 or around 650 with SL 644. :-)

vanathi

⋅ Aug 7, 2017 10:37 AM

@hotpot64, Welcome :)

UnknownUnicorn646072

⋅ Aug 6, 2017 7:36 AM

main trend is down selling is better then buying

vanathi

⋅ Aug 7, 2017 10:37 AM

@rupambose32, Selling is good when it breaks the support.

UnknownUnicorn646072

⋅ Aug 8, 2017 5:34 AM

@vanathi, and also buying is good when your trend line resistanc breaks,think logically,

UnknownUnicorn646072

⋅ Aug 8, 2017 5:37 AM

@vanathi, when you waiting to break,maximum time it is false breakout,and you miss the chance,price fall ,it is happen to maximum trader,because the do not know the trend

vanathi

⋅ Aug 8, 2017 6:14 AM

@rupambose32, Right

MAYURSHAH444

⋅ Aug 6, 2017 7:33 AM

IT IS TESTING DOUBLE BOTTOM AT 624 BUT ITS 50-50 IT MAY BOUNCE BACK MAY OR MAY NOT THERE IS ALSO PREVIOUS LOW OF 595 & 532 WHICH CAN BE RETESTED..

CORRECT ME IF AM WRONG..

vanathi

⋅ Aug 7, 2017 10:38 AM

@MAYURSHAH444, 50 - 50 chance is always there :)

hotpot64

⋅ Aug 6, 2017 5:38 AM

So it's Tata stocks going long all the way :-) my only area of concern for long position in any stock is the ongoing doklam issue, a slight skirmish there will send everything crashing down, apart from doklam everything looks fine at the moment.