TATACHEM trade ideas
TATA CHEMICALSIt has entered into the PRZ of a Bearish Harmonic Butterfly suggesting a pullback/reversal in daily time frame till 340/335. View would negate above 370
Harmonic Butterfly Patterns usually indicate pullbacks of the larger trend (in this case the same being up) not major reversals. Such patterns are usually associated with breakout patterns and respective pullbacks.
TATACHEMThe stock is consolidating near resistance.
Taking support at 100ema which is at 305.
CMP: 325.25
Target: 350, 365
TATACHEM LONG(52 week high)above 346(or at CMP,52 week high)
BO after 90 days consolidation
cosolidation zone is
weak below 270
sideways or accumulation zone is 320-280
Tata Chemicals - Weekly ChartAny dip towards 330-340 should be bought, the long term structure looks super bullish.
Add into portfolio for medium to long term Stock on breakout having good fundamentals
Buy on dips or SIP at lower levels
Tata chemicals - 3years of waiting is over- ATHPrice break the known resistance after 3 years of continuous efforts and marks the new ATH, what an year it is turning to trade the markets.
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Bullish on TATACHEMTrendline and the specially designed volume action analysis suggest a BULLISH run on the TATACHEM.
This is my NEXT week analysis on TATACHEM support line are there with good volume supporting the bullish view.
The background with light green color are indication for bulls taking the position and the Light red background suggest Bears are dominating in the region.
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There is a very high degree of risk involved in trading. Past results are not indicative of future returns. I assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice.
TATA CHEMAs per Ichimoku Multi Time Frame Analysis it has given a bullish breakout in hourly time frame and a close above 321 would confirm so in daily time frame also. As long as it sustains above 316 it could continue the uptrend till 350
Tata ChemicalsKeep an Eye Marked Demand and Supply Zone
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for educational purposes only.
always follow risk-reward and quantity management for the 100% of the times
The above mentioned idea may not work, so beware of the risk you are taking
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Happy Trading!!
TATA CHEM AT STRONG SUPPORTTATA CHEMICALS - AT STRONG SUPPORT
IF HOLDS 310 DEN AGAIN 325/40 POSSIBLE
Rising wedge Above EMA Reversed from support zone Rising wedge
Above EMA
Reversed from support zone
RSI above 50BUY ABOVE 320 SL 310 T 326 331 339
