FY21-22 Swing Trade Idea #196: Long on TATACHEMThis is a public swing trade idea (other private ideas accessible through website) and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
Tatachemical
TATACHEM - Seems ready for the next impulsive moveCategory: Reversal
Key Highlights:
1. Bullish market structure on HTF
2. Tapped into the demand zone
3. Massive volume on the creation of the demand zone
4. Turned the previous swing level into a support
Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Rajat Kumar Singh (@johntradingwick)
NSE Certified Technical & Fundamental Analyst
Will Tatachem reach new heights? Will Tatachem reach new heights?
Reasons/Traits :
• Channel pattern breakout seen today
• Bullish since last 4 days
• Good strength in RSI and strong uptrend is seen
• Perfectly following wave analysis
• Price is making higher highs
What can happen next :
Scenario 1 : Price sustaining above 890/892 can take the price to 920/940/960 levels to complete ABCD pattern
Scenario 2 : Price breaking 892/890 levels can go back to test 0.236/0.382/0.5/0.618 levels
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
TATA CHEM long trade. Chart has broken out on the weekly TF.
Look to buy on pullback in smaller TF.
Trade plan:
Since, breakout in weekly
Buy on 15M close above 970
Add on 75 min close above 970
BEST BUY @ 950
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Sl 920~
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Target plotted on the chart - based on 1.5/1.618 FIB extension of previous ATH to swinglow.
TATA CHEMICAL moving upward after consolidation 15MTATA CHEM after being traded in range bound area now trading upward, it can go for retest till 925 and can give a good reversal shot with high green volume.
I've took the trade with SL being last candle's low. you can also trade it for the target of 1000 or more. fundamentally very good company you can hold it for investment purpose too..
These levels are for educational purpose only.
Trade Setup in TatachemI saw the breakout in the Tatachem stock.
Volume looks increasing on buy side.
Stoploss below at previous candle of breakout because its has shown a good buying momentum as it has no wick downside on daily chart.
I think this may resumes the in upcoming trading sessions.
If not my stoploss will get hit.
1st resistance is at 792-798 levels - My Target 1
2nd resistance at 825-835 levels - My Target 2
This is my own analysis.
This post is for educational purpose only.
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.
Simple Trade Setup | TATA CHEMICAL | 09-08-2021NSE:TATACHEM
Simple Trade Setup for TATACHEM for 09-08-2021.
Chart and levels are easy to understand. After bullish move it has been trading in parallel channel. Break on either side will give a move to take quick trade.
Do comment your doubt or suggestion.