PARALLEL CHANNEL IN TATA CONSUMER PRODUCTS ON "30MINUTE TIME FRAME".Can initiate a buy if sustains above 740 with 15min candle close then 752.80/753 immediate target & 760 is high.
But 50& 200 ema crossover on 1D timeframe on 20/01/2023 so a negative scenario if goes below 720 then 700 immediate target downside.
if closing comes above 745-755 on 1day time frame...
The market has consolidatein the 1W Time frame and retest it. This is a good Opportunity to buy at market Price and can given 52% Returns or even more.
Entry Price :- 923
Stop-loss :- 883 (40 Point)
Target :- 1405
NSE:TATACONSUM
Tata Consumer Products has broken flag pattern. We can expect the price to move towards 1450. Aggressive buyers could pick at current price and a conservative buyer can buy once it crosses 1200. Other factors:
1. RSI is on rising, above 60 signalling bias towards bullishness
2. MACD should also improve as the price moves
3. Volumes are good, see last 2 buying...
Monthly uptrend channel of above script is high possibility of brekaout. Weekly close is very bullish with complete closing. Long term target is 1627. Short term target is 1364
TATACONSUM:- STRONG CONSOLIDATION BREAKOUT CANDIDATE
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on...
Tata consumer has crossed Daily correction but lack hourly volume due to market's sentiments can make long positions after market cool down or after 1250.
Pole n Flag:
1. More than 30 days into flag formation (sideways)
2. Support from 50 DMA; quick recovery & making Hammer
3. Double bottom formation within flag
4. Strong on revenue and earnings
Prior strong uptrend tot continue.
Positional Swing Trade Analysis:
Time Frame: Hourly
Fibonacci Retracement:
Price is above the golden ratio (61.8% level) at ₹1159.65.
Indicates strong bullish momentum.
RSI (Relative Strength Index):
RSI at 65.60, approaching the overbought zone.
Suggests potential upward pressure.
Middle Band Support:
Price holding support at the middle band (₹1159.60)....
As we can see stock gives a breakout with a heavy volume
stock retrace till 850. it can go upward direction furthermore
Month and Week TF triple bottom
Day chart breakout and retracement completed
educational purpose only!✨
Do your research before making any investment🥂
Price appears to be deliberately pushed down for catching stops and huge buying happening at support levels.
Sector supporting too
Call option can be positioned
Important Points:
1) Stock on high bull run
2) New acquistions on the way, company is expanding
3) Last bull run was 200% retrun... This time for 100%, it will reach till 1700+
