The stock has been near its all time-highs.
It has twice failed to sustain above the highs made in October.
It's been consolidating in a range now, any breakout upwards sends a very bullish signal.
It's rising since I last posted about it ( see in related ideas )
Tata Chemical is showing head a shoulders pattern. Expect downwards movement to 545 levels. This is also confirmed by the MACD falling below the signal line.
The short term chart (thanks to Vanati) shows a descending triangle pattern with a dead cat bounce.
Tata Chemicals after breaking the up trend has been trading in bearish mode and formed a falling wedge which is bullish sign, It is on the edge of breakout and may break the wedge pattern upward any time. There may also possibility to go further down to retest again if market open red and can touch the crucial 50% fibo. support again 448.00 finishing weekend....
Buy with A target of 610 over 4-8 weeks and with a stoploss of 525. do consult your advisors before taking trade.
Sale of the urea business has helped de-risk the company from policy uncertainties
Investors with a two to three year perspective can consider buying Tata Chemicals. The sale of the urea business in August indicates that the management...
It is been observed that the price action is ranging in a short term downward trend channel, which it breaks out from today indicating high buying pressure. Now, the price action shall reach out to 570 levels in order to form a double top.
Previously Tata Chem trending in a long term uptrend which gives a positive signal on this breakout. I would recommend to buy...