Tata Consumer - Short Term Range Breakout Idea
When the price crosses the range, it is likely to continue in that direction. Intraday traders then use the breakout as the entry point. In simple words, the opening range breakout strategy means taking a position when price breaks above or below the previous day's high or low
Tata Consumer Products is an Indian...
Tata Consumer Product
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Price Decline & Volume increase both supporting each other on Daily & Weekly.
We can see channel breaks as well.
If the price goes down further 781 then we can short.
NSE:TATACONSUM a less known company with well known products like TATA salt, TATA tea, Tetley green tea and Starbucks and much more, have finally broken out of its triangle consolidation after 6 failed attempts in the past one year.
Fundamentally & financially strong with consistent group in revenue & profits, low dept to assets ratio, consistent dividend yield,...
Reference Point
PDH - 801.35
VAH - 797
POC - 791
VAL - 787
PDL - 783
One can Trade on the breakout of PDH/VAH or PDL/VAL or Trade Reversal Near PDH/VAH or PDL/VAH.
I am Not Sebi Registered, This is just for educational and research purposes. Do not trade without your Financial Advisor.
I won't be liable if you lose money because of this idea.
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
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...
The stock s on uptrend recently. It should cross the above resistance to be n bullish mode .The RSi is reaching almost 60 so see the expected targets on chart
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...
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...
Trading Strategy : Stock has given a breakout of the formation of cup and handle. One should buy the stock near the current level i.e. 790 and keeping a stop loss of 750 , look for the target of 825 which is immediate target, later on can see the targets of 850 and 900.
Buy: 790
Stop loss : 750
Targets:
Tgt 1: 825
Tgt 2: 850
Tgt 3: 900
Theory:
The Cup...
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%...
Tata Consumer Products Ltd - 25.02.2022
The stock is trading @ 709 levels
There is a RESISTANCE @ 729 levels
There is a DOJI in Weekly Chart
The prices are at EMA
Let the prices go above 721
Watch out for the price action
Tata Consumer Products Ltd - 11.02.2022
The stock is trading @ 701 levels
There is a HAMMER in Daily Chart
There is a DOJI in Daily Chart
The prices are below EMA
There is a SPINNING TOP in Weekly Chart
Let the prices go above 721
watch out for the price action
TATA CONSUMER: MONTHLY CHART (Elliot waves targets)
It's in 4th corrective wave (in progression), it may complete around 600-700 level ( either 24% or 38% retracement of wave 3)
Targets for the 5th impulse wave would be 950,1300,1750 level, 62% of wave 1-3 retracement, 162% of wave 4, wave 5 equals to wave 1 respectively.
Bearish on short term, Long term trend...
![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]")
