TATACHEM: Near Breakout, on the way to cross ATH.TATACHEM
The parallel channels drew in the chart:
PC-A = PC- B
PC-C = PC-D
All of the four PCs are exactly of SAME width
#WondersOfPC
At point R, levels of 1180, candles respected the resistance of ATH, and came down towards 1030.
There, the candles got strong Support of point S which is the midline of PC-C, and bounce back towards the levels of point R again.
Now today we are at the same levels of point R, conforming the BO of PC-C.
With this strength, we have a strong view that the candles will cross over the Resistance of ATH, and we'll enter new zone
Good time to enter at CMP, we may face some consolidation between 1180-1195, this levels also have resistance of midline of PC-D
for swing trade,
CB SL will be 1124
Near term target 1260
If view goes wrong, we will have better opportunity to pick more for LT portfolio at 1125, and at every dips.
And overall market holds strong from here, we can see stronger Breakout of PC-D
