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Reversal

TATACHEM: BULLISH REVERSAL SETUP NSE:TATACHEM Tata Chemicals Ltd. is a holding company, which engages in the manufacture and sale of inorganic chemicals. Technical View Trading at major support zones and there are multiple confluences. 1. Weekly timeframe trendline support. 2. horizontal support formation from last one year. 3. Bull channel Support. on top of that Stochastic indicator also shows reversal. Here look at the daily chart and it has formed a turbo breakout. Stoploss shall be below the green zone and on a weekly candle-closing basis otherwise it would be just a liquidity grab situation. It can continue this range foe few more days so keep on radar. Keep Learning, Happy trading.
NSE:TATACHEMLong
by SANJAYPATIDAR_
2
Has HDFCAMC bottomed out?HDFC AMC has been in continuous downtrend from late 2019. As we can see on the chart, the stock has recently bounced from a support level with good volumes. The most interesting observation is a positive divergence in RSI during the bounce which might be an indication that stock has bottomed. On Friday, good buying with high volumes has been observed with a bullish candle, almost a marubozu. This stock has an immediate resistance at 1950 so it is better to buy the stock at around 1800-1810 levels for a better risk reward. Kindly trade as per your own analysis. This idea is shared for educational purposes.
NSE:HDFCAMCLong
by chartistamey
1