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Buy with sl below 660 for target 1100 and 1300.
Disc : it's not an investment advice to buy or sell
SCENARIO 1 : A breakout above 692 levels
TARGETS : 700, 716
SCENARIO 2 : RETESTING and continuation of downtrend.
TATAMETALI has been moving in a falling wedge since start of 2018. Currently testing the edge. Awaiting a breakout/Reversal
TATAMETALI has been respecting a long term neckline . Currently testing the neck again. Awaiting a breakdown or reversal.
Without the camel-->
Its Bouncing between the levels nicely.
After the huge leg up , it may form a flag before retesting the Lifetime highs.
After a retracement from sharp bull run, stock is taking support at 38.2% Fib Level and seems ready to resume trend as its already broken channel.
One can go long at CMP 642 with SL of today's Low 620 for a Target of retesting the top 760.
TATAMETALI is entering a possible reversal zone.
The green trendlines are from the DAILY timeframe forming a Rising Wedge .
Look out for a breakout or reversal, after it enters the Zone.