SWING TRADE: TATA CONSUMER, moving in bullish wedge, and now facing good resistance. Enter on buy side if close above 725.
Can consider for a swing trade with a stop loss below the previous low and targeting the top of the ascending channel for a risk reward of about 2.6.
Tata Consumer Futures LTP - 679.15 Support - 655.20 Resistance - 697.75 Daily charts (long term) A strong bullish pattern called triple bottom has been formed in the RSI. 5, 10, 20, 50 and 100 DEMA are aligned perfectly. The chart is moving in an uptrend. MACD is sideways in the bull zone. Hourly charts (medium to long term) The 20, 50 and 100 DEMA is in an...
When it crosses the trendline take the long call. It should cross tomorrow morning. MACD is also ready to crossover SL about 5% and target about 8 to 10%. Duration 1-2 weeks.
Hi! One should always trade what they see and not what they feel. After looking at the news where Tata has bought a good stake in Bigbasket (I am bullish for long term) but looking at the charts they tell me to short as it fits my checklist. I might be wrong or right but what matters the most is how much you are willing to loose... Happy investing.
In the hourly chart, we can clearly see that Tata Consumer Products has broken the resistance of 614 with high volume. Take long position guys for the target of 636 .
Please check the chart for proper levels and stop loss, only aggressive investors enter now. Other waits for the uptrend brakout.