#TATACHEM CASH : POSITIONAL BUY AROUND 305-308#TATACHEM CASH -Positional call
19.08.2020
Looks good around 305-308
stoploss 297
target 324/338-340
cmp 311.05
TATACHEM trade ideas
TATA CHEMICALS LOOKING WEAK Tata chem looking weak as it has been testing its major support several times and consolidating between 20 dma & support, if broken 292-290 with volumes and sustains more pain can be seen.
tata chem watch out for break out the price tend to bounce at 293 support as this proved to be strong support in the recent times.
second support is 273 points. as the current market condition is good for chemical and pharma we can take a call in the dip.
Disclaimer Note: the above views is only for study and analysis purpose.
Trade at your own risk.,
TATA CHEMICAL ANALYSIS 11.08.2020BUY 301 TO 296
TARGET 310 TO 314
IT IS FORMING IN SIDE WAY .SO WAIT FOR BETTER CONFORMATION.AND IT FORMED AS SPINNING TOP LAST CANDLE.
Tatachem stock for long entryStock of Tata chemcial is now trading above the 20 EMA level & can be taken long entry after the BO @ level of 302 Resit.line for the next target price of 310 with the SL of 298. RSI is also getting the strength & good +VE divergence has been see. So add the stock in your watch list to see the price action movement of the stock.
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask.
Watch the free trading ideas performance sheet for the month of July-2020
drive.google.com
TATA CHEMICAL 04..08.2020BUY 298
TARGET 311
IT HAS FORMED HAMMER CANDIL NEAR SUPPORT. BUT WAIT UP TO CROSS 301. FOR BETTER CONFORMATION.
Tatachem - Mostly a short opportunityTatachem - Short below 305.4 ONLY closing basis
Will await a closing / engulfing candle for entry - till then waiting for trade opportunity.
SL: 1.2 Points
TGT: 4+ points - will update if traded
TATACHEM Long target 310 / 320Enter longs in TATACHEM as it is in uptrend and we can see buying interest. Intraday targets 310 / 320.
[Buddha] TATACHEM Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
Momentum Analysis & Distribution Phase - Tata ChemicalsPrice Action Analysis:
Analysis of momentum is not about measuring any absolute value of momentum, but in making a comparison of current price action momentum with prior price action momentum. In the month of March price declined from a high of 340 to a low of 197. Price swings saw an acceleration and shows increasing momentum and strengthening of decline. From the low of 197 price reversed and advanced with higher swing lows and high swing highs to record a high at 325. But the price structure of the up move indicates a decelerating momentum. Decreasing slope (the violet line with) shows decreasing speed. Momentum within this price swing is decreasing, showing weakness developing in the price swing.
The swing high at 325 falls within the prior resistance zone of the 340. The present position of price appears to be in a distribution phase with the completion of five internal swings within a mother swing with a swing high at 325 and a swing low at 293, which is also visible as multiple inside bars on a weekly time frame.
Ranges that has formed at the end of a previous trend (uptrend) brings a balance in supply and demand of the market. In such ranges, neither buying nor selling activity will be large enough to create significant movement towards upside or downside. Hence in such type of ranges, Price action moves sideways for an extended time period. Big Institutional Players and Smart Money traders commonly referred as Composite Man by Wyckoff, take significantly large positions in these types of Ranges. One can witness low volumes as price entered the distribution phase but the volume has increased with significant bearish bars in the last leg of the swing.
Trade Plan:
One can initiate a short position in the zone of 300 to 306 with an Initial Stop-Loss of 323. Price can find initial support in the zone of 293. One can expect an equal measured move of the range on price break and close below the mother swing low at 293.
Disclaimer
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
Buy @310 Target 315.40 SL 307.15 for short term Buy @310 Target 315.84 SL 307.15 for short term or intraday for tomorrow If nifty support then we can see more atleast it will touch 320
Tomorrow may expect 315 as a intraday target and for short term 320 .
If nifty support then we can see 320 might me tomorrow itself...
I will review tomorrow again.
My View on TATA CHEMICALS 1. Stock is at its 200 EMA support level.
2. Stock is trading lower than 50 day EMA from 26 Jun. High for the Jun month was 324.20, since then stock is in the downtrend.
3. If the stock moves upto 310, it can go up considering the current down trend at support for its up move OR it can just take a pull back and come down to continue the downtrend.
Tatachem Probable BrekoutTatachemicals can give a breakout after getting rejected multiple times from the posted level
TATA CHEMICALS - MOVING IN A SYMMETRICAL TRIANGLE!!TATA CHEMICALS
TATACHEM is moving in a narrow range and has formed a symmetrical triangle pattern.
The price is taking support from 100EMA.
RSI is below 50 and is moving sideways.
ADX is neutral.
Daily and Hourly TE TIME TREND are Bullish.
If the price breaks out of the pattern and breaks the swing high of 319 we might see an upward move till 324. The support on the downside is 100 EMA.
However, if the price breakdowns and moves below 309 with volume, we might see a quick fall to 306 & 301.
KEEP AN EYE!!
***this is my personal view. Please take advice from your financial advisor before investing.
Tata chem- Clear Sell Idea coming if Trendline BreakAs seen in Candle chart wonderfully following and support taken on Trendine....But if gets broken on daily then GO GOA GONE.. Same trendline also seen in Weekly...Highly Bearish set up coming
