Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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Tata consumer stock is at bearish harmonic PRZ. In simple language the stock is at resistant.
as per this harmonic pattern stop loss is quite big as mentioned on chart.
Reversal Zone = 741.80 to 772 ( if one can find reversal in this zone they can short this stock as per their trade setup.)
Stop loss = 772 Closing Basis ( if you...
Both in daily & hourly Tata chemica- successfully retested
Breakout alert ahead.
Self explanatory chart.
For educational purpose only. I am not a sebi registered expert. Trade at your own risk. Feel free to text & Share your views.
There is a trend line connecting October 21st 2020 and 19th March 2021. If you extend it, we can see it has supported the current retracement from 7th May 2021.
According to the fib retracement levels, entry is above 652 .
First and second targets are 670 and 690 respectively.
(Though Tata Consumer Products declined 6% on weak operational performance in Q4,...
There is a buildup near the resistance and that signifies a possible breakout and continuation of up-trend.
The volumes during the consolidation are also low and the stock has been making a higher lows structure in form of an ascending triangle.
Strong above 718-20,target is 2-2.5%
View is invalid if price breaks the triangle on the lower side.
Support at 695-700.
This stock is bullish in the daily/weekly/monthly Chart and broken its high after nearly 1.5 months of consolidation. We need to wait to see that RSI should not create any divergence in its bullish move.
If the Stock breaks and stands above 720 level then the probable target will be 754/787/819 level in a short-term period.
If the Stock breaks and sits below...
Exit your Longs in TATA Consumers as there might be some profit booking from tomorrow or upcoming sessions which can drag it to 650 levels then we can make our fresh long positions
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Stock have been in a Channel from Jan 20 , while having 3 Resistance and support level in weekly time frame. From the above chart can be concluded that price breaks 690 levels that Stock will go in uptrend.
For educational purpose only.