TATACHEM
TATACHEM is Making Symmetrical Triangle Pattern (Breakout Trade)Tata Chemicals Limited : Chemicals Company ( NSE:TATACHEM ) is Making Symmetrical Triangle Pattern (PATTERN BREAKOUT TRADE).
This can become a very good trade for iNTRADAY Traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that BROKE this pattern. Or Low/High swing backward inside the pattern.
And as soon as you get a profit of 0.70% of your TARGET , you will trail your StopLoss and bring it to the entry point. And as soon as your first target is hit, you will release half of your total quantity and continue to trail your StopLoss above the last swing Low/High.
Target and StopLoss are never already FiXED in the chart pattern.
You always have to trade only by M oney Management, P osition Sizing, S topLoss Trailing. This is the way to stay in PROFiT .
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Chart Published By Ravinder Sharma
Thank U.
tata chem watch out for break out the price tend to bounce at 293 support as this proved to be strong support in the recent times.
second support is 273 points. as the current market condition is good for chemical and pharma we can take a call in the dip.
Disclaimer Note: the above views is only for study and analysis purpose.
Trade at your own risk.,
Tata Chemicals | Double Bottom - WeeklyDouble Bottom pattern observed in Tata Chemicals. Neck level was broken in second week of May thereby confirming the pattern. The recent fall could be counted as neck level retesting. In that case the stock will move up to 672 where the pattern target falls. However, a trendline still holds and we could see noticeable resistances at 635 and 658. A break above 635 will be key. Hence, if resistance at 635 fails Tata Chemicals could move swiftly towards double bottom target.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
Short Term Buy on dips || TATA CHEMICALS || SL 553Buy Tata Chemicals on dips with SL of 553 and targetes of 572/579.
Adjust trading volumes as per entry price.
Disclaimer :
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Positional short in tatachemical 9aprilTatachemical cmp aaprox 723, short @723 with stoploss above 731 spot.
Trade trgt will depend on market conditions price movement going forward
Plz do proper risk assessment before initiating trade
Do Not overtrade
Positional trades carry huge overnight risks
All prices are spot