TataGlobal: The Tata FlagNotes on the chart.
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TATAGLOBAL
TATAGLOBAL SHORT :Hanging Man at crucial ZoneAndrews Pitchfork's is capturing very well the price action so far and working as Resistance. It has closed out of it but formed a hanging man showing possible weakness, so one can short the stock if it starts trading below the upper Median Line around 143.50 for a target of 135 by providing stop loss of 147.60.
TShort
Tata Global- Trending Up It is been observed on daily and weekly chart that the price action is trending up and moving up at a high streaming pace. Now, It shall further reach to the next resistance levels at 150-152 levels.
Target1: 150
Target2: 152
Stoploss: 144
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Tata Global Potential Short TradeThe stock seems to have good frequencies around the Pitchfork so one can put the stock into their watch list. Recent election result rose the expectations of an euphoric rally which gives an opportunity to short the stock at higher level around upper Median Line. It is coming out of RSI overbought Zone and current reading below 50 also confirms a potential short
TShort
TATA Global retracing to support 135TATA Global has been retesting the long term resistance and unable to break. it has start retracing towards 38% (135 )fibo level and next may be 50% which is (129) in near term. SL will be breakout of resistance 146.
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TataGlobal LongsideTataGlobal is giving a long breakput abovr the level 125.30, above 125.30 it can target the level 127/128.50 if do not break 123.85 on downside.
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Tata Global - Channel Breakout SetupIt is been observed that there are two pattern formation breakout held on hourly chart, symmetrical triangle and Channel Breakout. Where the price action respected the breakout. Now, the price action breaks out from a upward channel breakout indicating further weakness. Targets are measured as per the channel and by also considering previous support levels on daily chart.
Target: 149
Stoploss: 156
TShort
TataGlobal - Weekly viewTata Global has broken the downsloping trendline and broken out .. but but but ... needs to close above 150 and sustain - and since its a Weekly TF ... could be time consuming as well as itchy to wait and watch ...
Once above that levels, expect it to move to 162 odd levels with some small stops and retracements in between.
TLong
TATAGLOBAL - bullish in medium termFourth correction of the recent impulse move is about to complete. Since the third wave looks to be normal, we can expect a extended 5th wave. Targets are around the price levels 163.
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