Chart has broken out on the weekly TF.
Look to buy on pullback in smaller TF.
Since, breakout in weekly
Buy on 15M close above 970
Add on 75 min close above 970
BEST BUY @ 950
Target plotted on the chart - based on 1.5/1.618 FIB extension of previous ATH to swinglow.
TATA 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...
Will Tatachem reach new heights?
• 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...
#TATACHEM has shown a bullish Triangle Breakout and there is a good chance for Very Short term gain as the price has high probability to test the previous high of 888. Also the strong support is at 800-805 range for those who are eyeing on a medium term.
tata chemical getting down in parabolas shap
supporting down trend line upper side
working on major support level of 821
tatachemical may fill down side gape if the level 821 breaks then go for short with upper trend line
Tata chemicals has recently broken its all time high and is also sustaning above the high
A pullback was needed for further rally . Applying harmonic patterns we get a bullish gartley pattern and tata chemicals is showing no lower lows can be one sign of reversal.
Second confirmation can be swing high breakout and another confirmation is trend line breakout
TATA Chemical is bullish, it took support at the bottom yellow line twice and that's indicate the strength. It indictaes the buying at Current price for the target of 884 in coming 2 to 3 weeks with stop loss of 799 day closing basis.
Please also note that if it crosses it's last high of 892 it will give further 4-5 % return. Therefore next target (upon...
1) It is taking and maintaining above 21DMA on daily time frame.
Please refer below chart.
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.
Tata Chemicals is making a good pullback to the BO zone. Price had formed a base of over 100 trading sessions following which it made a Runaway Gap Breakout on huge volume. The volume has significantly dried up during the pullback. The Gap will act as a support and there is a high probability that stock may resume it's upmove.