Tata chemicals is likely to be partially responsible in battery productions, although tata is going to have some foreign partners on board for that to develop batteries... nevertheless we can expect this stock to rise in various time frames ranging from short term to long term. Price just bounced off its trend line and is above the 20 EMA after spending a couple...
Tata chemicals had a bullish pennant pattern. Trend lines of pennants eventually converge forming a triangle. Breaking-out the upper trend-line and it took a pullback to the key resistance which became the support zone now. IF IT BOUNCES BACK FROM THIS SUPPORT ZONE, then it can be considered for a swing trade, keeping the stop loss below this zone. Aim the next...
HEY FELLAS, Have a look at tatachem . It has formed a flag and pole pattern and it has given a breakout with a good volume in daily timeframe . So, according to my analysis go long till it reaches 950.
Tata chemicals is looking good on daily charts . It has broken the trend line that it was following from last 3 months. So this is good opportunity to go long.
Current Price: 767 rs
Good Entry Point: 725 - 740 rs
Target: 835 rs - 850 rs
Stop Loss: 699 rs
RSI: 60 (Not in over brought zone)
Probability: Positive for Long position
The price has given a breakout from a downtrend and also from a resistance zone. Now this is a huge breakout in a day. Ideally price should lose momentum reaching to resistance zone and then give a breakout. So here we will let the price test this zone (pullback) and then buy once the uptrend is confirmed.
Tata chem still trading within triangle pattern in weekly chart.
Volume is still not good enough even though the price has moved higher last week.
Strong resistance zone between 780 to 800
Stock need to close above Rs 800 on WCB to confirm breakout.
Lookout for short chance next week, if stock starts to trade below 750 levels on 15 mins time frame with SL @ 780
it looks it will reach 799 by next week (week starting 5th July 2021 and ending 9th July 2021 due to momentum it gathered in last trading.
on 2nd July 2021 it closed at 767.70
will maintain stop loss of 730
note this stock is good for long term as well.
watch out for next week and dont forget to read disclaimer.
other technical parameter which supports buy
1. If Price Come for Retest We can buy @732 Levels
2. If Price Break 770 level and sustain We can go Long upto 790 levels
3. If Price Break 790 levels with good Volume and if price Sustain above 790 levels then We can Go long upto 830 levels.
4. chances of Raise upto 1060 levels.
>> Always Enter With good...