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Tatacommunications is consolidating inside the triangle. Close above 745 indicates bullishness. Stoploss 741. Targets are 748, 752 and 755. Use trail stop to protect your profit. Another version of the analysis is also here.
Trade active:
15 mins low was 741.5 which didnt hit my stoploss. Entered trade @ 745 on 3/2/17
Comment:
First target reached.
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Comments
This seems to be a false breakout as there is very low volume on the breakout candle.
If the stock resumes trading above 742, the trade is still valid.
If the stock resumes trading above 742, the trade is still valid.
Reply
@n.bhaskar1993, First 15 mins candle volume less, also it tried to reach the stoploss 141. missed by .5 pts. It indicates weakness. Once the price action shows weakness we have to be alert. After that price reached buy level, hit first target and fall. Trading above 742, the trade is valid, but it will take time to gain strength.
Reply
Camaro did you see my post on Tata communication? Interesting to see again today we see inside candle . This time we may see upside breakout. I am happy you also posted on this
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