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TATA Chemicals: Bracing for a Potential Trend Reversal !TATA Chemicals has been showing signs of a potential trend reversal in recent days, as the stock price has been trading within a tight range and forming a bullish pattern. The market trend analysis suggests that the stock has been consolidating after a prolonged downtrend, indicating a possible shift in sentiment. The price action of TATA Chemicals has also been showing a higher likelihood of a breakout to the upside, as seen in the series of higher lows and higher highs forming on the charts. Furthermore, the technical indicators such as Moving Averages, Relative Strength Index (RSI) and the MACD have been signaling a bullish bias, with the RSI breaking above the 50 level and the MACD line crossing above the signal line. These indicators provide additional confirmation of the potential trend reversal, making TATA Chemicals an attractive prospect for traders who are looking for a potential buying opportunity.
NSE:TATACHEMLong
by akshatjn
1
Green or Red February for Bitcoin?After a massive bear run, BTC holders saw an almost 40% gain in Bitcoin price in Jan 2023 pushing the fear and greed metric into the “ Greed ” zone. After a strong rally in January, what is next for Bitcoin? In the last 8 years, we have seen a green February for Bitcoin except in Feb 2020. Thus, we expect 2023 February to be a green February for Bitcoin. Price is above its 20 and 50 EMA on a daily timeframe and is currently hovering near its support at 22800 with the next resistance at 25100. If the price breaks this support, the next support can be found at 20-EMA. On a daily chart, there is a formation of RSI divergence which is a bearish signal although, we need to keep an eye on other metrics too. On a 2- hour timeframe, price has fallen below 20 EMA which is also acting as resistance and 50 EMA acting as support. Moving Average Convergence Divergence (MACD) line has crossed the signal line indicating possible price correction.
by teakfinance
1
DETAILED TECHNICAL ANALYSIS ON CAPLIN POINT LABORATORIES.Few pointers from my analysis on CAPLIN POINT LABORATORIES: 1. The stock has consolidated in the Triangular pattern and currently near its major support. 2. The major support trendline is near 0.382 Fibonacci level, thus has done healthy retracemet. 3. The Horizontal support is broken on the downside, however on lower volumes. Conclusion: The current setup is awaiting price confirmation by breakout of the resistance on Triangular pattern with high volumes and Breakout of RSI above 50. Overall setup is bullish however entry can be taken prior to the confirmations. Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing any investment or trading.
NSE:CAPLIPOINTLong
by saikrishna9999