Tata Communication - Breakout of consolidation

📈Key Details 📈

• Tata Communication is a prominent member of the Tata group, a leading business conglomerate in India with a major presence in telecommunications.
  
• The stock is currently trading at its all-time high levels, indicating strong bullish momentum.
  
• After a consolidation phase lasting over 40 days, the stock has broken out.
  

📈 Technical Analysis 📈
Tata Communication's chart reveals an exciting trading opportunity. The stock has recently experienced a bullish breakout on the 75-minute timeframe, accompanied by significant trading volume. The breakout candle opened with a gap up and formed a Marubozu, indicating strong buying pressure throughout the session.

📊 Trade Plan 📊
To capitalize on this breakout, consider the following trade plan:

• Enter a long trade above the high of the breakout candle.
  
• Set a Stop Loss (SL) below the marked supply area on the chart to manage risk effectively.
  
• Consider trailing your Stop Loss to protect potential profits as the trade progresses.
  

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Please note that this analysis is for educational purposes only, and I am not a SEBI registered analyst.

Comment:

Currently trading at 1779

Comment:

A retest of the breakout with low volume presents another opportunity with low risk and high reward trade.

Comment:

Flying again after retest ✈️