I am naïve to the chart pattern. This is my first post.
Many of Tata groups' stocks including Tata Coffee are in Multiyear breakout. If you see Weekly chart it's already breached out W pattern and now approaching towards the multiyear resistance of 172-175.
SL can be 138 and Target can be 173.
- Great breakout after a consolidation with Huge volumes
- Past Candles showing Buying pressure
- A good entry can be 970 with a stoploss of 860
- Great Volumes validating the buying pressure
- Breakout after a consolidation
LONG TERM IDEA OF THE MONTH // Sunday April 4th 2021 // BSE:ARTSONEN
// This is a Long Term Investment Idea and not a swing trade call nor an intra-day trade. Please do not expect the stock to go up on the same day of posting or within a few weeks. Please follow the notes along with the posting before, during and after entering the trade //
CMP / LTP: 40.4
...
Key Levels for TATA STEEL :
Upper Breakout~288.75
First Target~297.80
Interim Resistance~305.85
Final Resistance~314.45
**Lower Levels**
Lower Breakout~274.35
First Target~264
Interim Support~255.15
Final Support~246.30
Please trade with caution and consult your financial adviser before trading.
Key Levels for TATA STEEL :
Upper Breakout~290.40
First Target~297.40
Interim Resistance~304.95
Final Resistance~312.50
**Lower Levels**
Lower Breakout~279.85
First Target~272.40
Interim Support~266
Final Support~258.45
Please trade with caution and consult your financial adviser before trading.
Titan pierces through an important support level, which is what could be a trend defining one. Price range offers support through a Rising Trendline, 100 SMA and price support of 1150. The fall is largely triggered by the news of a slow down acknowledged by the management.
However, the suggestion would not be to short sell right away but to wait for today's...
