Tata technologies breaking falling wedge pattern
1) Tata technologies is now breaking out of a falling wedge pattern and seems will reverse. It has also broken above 50 dma.
2) One needs to wait for a proper retest of horizontal support and 50DMA which are forming confluence as support.
3) A strong bullish Morubazu candle with good volumes at the support will confirm the entry in stock. This will also change the price structure from Lower high & lower bottoms to higher high which will indicate change in trend structure.
4) RSI has broken 60 and looks stong, RSI may retest 60 levels and should take support on retest.
2) One needs to wait for a proper retest of horizontal support and 50DMA which are forming confluence as support.
3) A strong bullish Morubazu candle with good volumes at the support will confirm the entry in stock. This will also change the price structure from Lower high & lower bottoms to higher high which will indicate change in trend structure.
4) RSI has broken 60 and looks stong, RSI may retest 60 levels and should take support on retest.
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