Tataconsumer
TATA CONSUMER | Long | 1-2 Weeks Target of 566Tata consumer Closed above the resistance line 534.50 which gives target of 566 in short term. few factors indicating the support for target in 1 hr candle you will hammer supported by 50mvg, next when ever RSI turns above 70 mark it given consecutive 3 days of uptrend we can expect from next trading day,
TATA CONSUMER Bear Pennant PatternCan you see the Chart is speaking very clear?!
- 38.2% Fib retracement done from the Tops, and the Pennant was Counter trend in nature with a 3 Wave Advance
- On 10th November, we got confirmation to Short, Price also closed below 5 Day EMA and it has turned down sloping now
- Also notice how Price cannot sustain above Anchored VWAP from the Tops
- Price is heading back to 440- 420 on the downside
- Bearish view negates above 520
- Enjoy the Downride and avoid Longs since it was just a Pullback within a Bear trend