TATACOFFEE - Weekly Chart AnalysisThe stock has been in to consolidation for the past 2 years. With price getting tighter and tighter and volumes getting contracted with the tightness.
1st base was of 45Weeks with 28% range, 2nd base consisted of 40weeks with range of ~21% and current base formed is 15weeks in 12% range.
See the volume contraction from left to the right.
Highest monthly close of 250 was made in July 2023 after which the stock closed last month at 257 levels and it seems sustaining for the past 2 weeks now above it.
230-250 levels shall now act as strong support and our view gets invalid if it manages to close and sustain below these levels.
The stock is sustaining above all its key moving averages too. A low risk pilot entry can be made with proper risk management and further pyramiding can be done once it successfully closes above 258-60 levels.
As per the trend based fib 380 - 435 - 500 levels can be tested in future if everything goes as per the view.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade at your own risk.
Tatacoffeeanalysis
Tata Coffee Analysis Stock is trading near ATH BO with maintaining supportive trendline, and stock has given BO on daily chart with massive volume, follow chart for proper entry and exit levels.
Tata Coffee Ltd (TACO)breakoutTata Coffee Ltd (TACO) break out
Tata cofee break out in weekly time. Yesterday High volume and momentum created
Buy above 245. Next target 248, 252,261
Time to go for long. Thank you.
TatacoffeeSymmetrical Triangle on Daily Time Frame ,Broke out already, watch for entry , Keep Your Stop loss.
Expecting a Bullish Move in TATACOFFEEAs per the 2 Hour Chart of TATACOFFEE, we can witness a Formation of “Hammer” on the chart. Therefore, we are expecting a bullish momentum in TATACOFFEE in the upcoming trading sessions. Wherein it is being expected to face a resistance initially at around the levels of 214.70, 216.75, and 220.20. Whereas, on the other hand, on the downside levels, the stock may face a support at the level of 209.85, on closing basis. Closing Price (as on 28.12.21) : 2112.55
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