TATACHEM Breakout analysis to buyTata Chemicals Ltd manufactures and exports basic chemistry and specialty products
If we look at the chart:
The market has broken descending triangle to upside. Price also has taken 200 EMA support recently. RSI also indicates the bullish trend sign. There is also dividend date coming which might boost the buy for Tata Chemicval.
you can execute the trade with R:R of 1:3.
Plan of Action:
Buy: above 1123
Stop loss: 1069
Target: 1317
Tatachembuy
Tata Chemical LONGNSE:TATACHEM
1. Its price is at important 50% Fibonacci retracement level.
2.Channel Breakout + Retest
3. Consolidation of more than 195 days ( Bigger the consolidation , Bigger the breakout )
4. Enter again if SL hits , As the market is -ve , it might fall for more 1-2% . But Risky traders can enter now itself.
Tata Chemicals : Swing Buy, Buy for IntradayTata Chemicals Limited is an Indian global company with interests in chemicals, crop protection and specialty chemistry products headquartered in Mumbai, India.
CMP: 944.05
Target: 976-1003
In Tata Chemical Sideway trend completed also given breakout and form 1st Elliott Wave. Best for Long term.
For Intraday On 31st Jan 22 Watch opportunity to buy. ( Must watch Bullish Candlestick Pattern, Stop loss as per Candle Stick Pattern)
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Simple Trade Setup | TATACHEM | 13-12-2021 [ INTRADAY ]NSE:TATACHEM
Observations:
1) On 1day time frame, it is between 50DMA and 21DMA.
50DMA is immediate resistance. Once it sustain above it then it will be immediate support.
21DMA is immediate major support at this time.
21DMA is placed at 909.47 and 50DMA is placed at 942.96 level.
Please refer below chart : 1day Time Frame.
2) On 1hr time frame, we can see it gave breakout of inverse head and shoulder pattern.
Neckline range of this pattern is 920-923. Which will work as immediate support.
Please refer below chart : 1hr Time Frame.
3) On 15min time frame, we can see that it was trading earlier and making higher high and higher low. And also making bullish flag and pole pattern. But on 10-12-2021, it made lower high and lower low.
If this pattern will get active as flag of the bullish pole then on breakout of this flag we can see upmove. Otherwise it will consolidate or give downmove.
Please refer below chart : 15min Time Frame.
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Trade Setup for Date: 13-12-2021
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Simple Trade Setup | TATACHEM | 30-08-2021NSE:TATACHEM
Observation:
1) It is taking and maintaining above 21DMA on daily time frame.
Please refer below chart.
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Trade Setup for Date 30-08-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tomorrow.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.