Tata Consumer NSE:TATACONSUM CMP 804, has a strong supply zone at 832, 852 and 885 rupees. once it crosses these resistances, it may go up to 950 very fast. unlikely in August series, because of general headwinds in FMCG food sector.
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The stock is returning from a great support and witnessing a double bottom pattern with having a break out with huge moment and now it's ready to hit the set targets. First two will be easy to achieve, I suggest to trail a stop loss after hitting the second one.
Peace out :)
Love
Jerry
NSE:TATACONSUM
One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
Close should be good, and Clean.
R:R ratio should be 1 :2 .
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
If Breaks Then The Targets could be Taken at 757.90 .
Time Frame :- 1 Hour
Patterns Name :- Double Bottom
Symbol Name :- Tata Consumer
Comment Below If You want to ask me questions on this on any other idea .
Based on Your Own Risk this is only to Show you the Current Pattern .
We are not responsible for any profit or loss .
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Hello traders , here is the analysis for this stock let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position . I suggest you keep this stock on your watchlist and see if the rules of your strategy are...
NSE:TATASTEEL
#NSE:TATASTEEL bounced from support and reached resistance level, BO sustainability may give good up side momentum.
Levels marked on chart for practice.
Happy LEarning
NSE:TATACONSUM
Observations:
1) On 1day time frame, it is near critical level of the range. If it gives breakdown then we can see a good downfall and if it takes support from it then the bounce up will be good.
Please refer below chart : 1day time frame.
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Trade Setup for 26-04-2022
1) Don't Jump in to trade at...
#Tataconsum Long (01 Apr)
Head & Shoulders pattern
RSI-63
Buy at CMP- 777
SL- 740
Target- 809, 829, 859
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Charts and views are only for educational purpose.
Tata consumer is a buy in the range of 740-748. Reasons to buy :
1. 38% Fibonacci level retracement
2. Ascending triangle formation.
3. Already gave a breakout of a big trend and retesting now.
4. RSI is also above 50 which gives us a clear uptrend confirmation.
Buy between range of 740 to 748-50 , if you want confirmation wait for...
Script broke out from a falling counter trendline and also a supply zone. That too with a high volume candle.
We can place our trades above 810 for TGT of 850+ with an SL of 780.
Happy Trading :)
Disc: Chart posted only for learning purpose.
Tata Consumer (Daily):
1. Trendline Breakout
2. Resistance level Breakout
3. Reversal from 50% levels
4. Trading above 200 Days Moving Average
5. Positive Crossover of 5, 13 Exponential Moving Average
6. Target 1- 850
Addl Points:
1. FII/FPI have decreased holdings from 25.93% to 25.67% in Dec 2021 qtr
2. Mutual Funds have decreased holdings from 7.33% to 7.02%...
![TATACONSUM: Simple Trade Setup | TATA CONSUMER | 26-04-2022 [INTRADAY]](https://s3.tradingview.com/u/UtaQGX0u_mid.png "Simple Trade Setup | TATA CONSUMER | 26-04-2022 [INTRADAY]")
