TATACONSUM trade ideas
Shorting Opportunity in TATACONSUM ? If Crosses below 639!All important resistance and support zones are clearly marked on the charts.
And we can clearly observe in the charts that in TATACONSUM for the period of time 640-45 was acting as very strong support.
As two red trendlines are seen along with market sentiments expecting this time to break below that thus giving us the short entry.
So for safer side it's good to wait and watch till 439 is not breached.
Review before trading and do share valuable feedback or something missing in charts!
TATA CONSUMERS : 700++ TargetTATACONSUMER
CMP : 650
RESISTANCE: 655
SUPPORT: 610
POSITIONAL PICK
Accumulation Range: 640-629
TARGET - 678-709
STOP LOSS: 605
HOLDING PERIOD: 1 MONTH
TataConsumer to touch ATH?After an extended downtrend, Tata Consumer has shown bullish strength in the past couple of weeks has been forming higher lows. The TL shown is the only barrier for the stock now. So, one can go long as soon as the TL is intersected at around 638.5 and expect to see 648 levels in the short term and even it's ATH above 551.
short term opportunity check for reversal candles to confirm buy or more bearish candles for sell opportunity.
TATA CONSUMER PRODUCTS "SWING TRADE"Tata consumer is standing at very crucial support once the ressisrance is broken and sustained we might see an up-move.
TATACONSUM --- Ready to takeoff tomorrow.When it crosses the trendline take the long call. It should cross tomorrow morning.
MACD is also ready to crossover
SL about 5% and target about 8 to 10%.
Duration 1-2 weeks.
Great entry point with Supper Powerful Bullish setup!Technical analysis shows new strength emerging in TATA Consumer.
Fundamentals in favor:
1. Company's leadership is trying to reduce debt & working capital year on year
2. Market leader in Salt & Tea (Almost monopoly)
3. Venturing into other ready made kitchen segments : idle, poha & etc
4. Acquisition of Big basket will transform this company into 3rd e retail giant after Amazon & jio Mart.
5. Only FMCG company capable of +20% ROCE for next 4-5 years!!
Verdict: If you can happily invest & forget about it for next 3 years, then it will easy give around 200% returns!
Disclosure: Invested, Follow your risk management if you may enter.
ELLIOT WAVE -3 BEGINNING LOOKS LIKE TATA CONSUMER HAS COMPLETED ITS DOUBLE CORRECTION (WXY) ON THE BASIS OF TODAY'S PRICE ACTION. AS THE CORRECTION TOOK FORM OF EXPANDED FLAT EXTENTION TARGET OF WAVE Y (123.6% OF WAVE W FROM THE BEGINNING OF WAVE X) COMES @ 587 ALONG WITH 61.8% RETRACE LEVEL OF WAVE 1 @ 589 WHICH FORMS A GOOD SUPPORT. THIS COUPLED WITH A BULLISH PIERCING CANDLESTICK PATTERN WITH LONG TAIL SUGGEST THAT BUYING HAS RESUMED. AS PER RULES PROJECTED TARGET OF WAVE 3 IS GENERALLY 161.8%(707) OF WAVE 1 FROM WAVE 2 LOW'S. AS PER CLASSIC DOW THEORY STOCK IS ALREADY MAKING HIGHER HIGHS AND HIGHER LOWS WHICH IS ALSO MAKING CASE OF BUYING THIS STOCK ON DIPS. VIEW IS NEGATED IF 161.8% EXTENSION LEVEL OF WAVE W(@565) IS BREACHED ON THE DOWN SIDE. ALTHOUGH I AM POSTING THIS IDEA ONLY FOR SHARING MY ANALYSIS AND FOR THE FEEDBACK FROM WHO SO EVER READS THIS BUT PERSONALLY I THINK THIS STOCK CAN BE BOUGHT @CMP OF 600 WITH EXIT OF 565 ON THE DOWNSIDE AND POTENTIAL TARGET OF 707 ALTHOUGH
PS:I HAVE CONSIDERED TARGET PROJECTION FOR WAVE 3 BECAUSE WAVE 1 HAS 5 SUB WAVES MEANING AN NEW IMPULSE.LEVELS SHOWN IN GREEN(DOWNSIDE) ARE RETRACEMENT OF WAVE 1,SHOWN IN BLACK(DOWNSIDE) ARE EXTENSION LEVEL OF WAVE W FROM WAVE X TOP AND SHOWN IN BLACK(UPSIDE) ARE PROJECTION OF WAVE 1 FROM WAVE 2 LOW'S FOR WAVE 3 TARGET.
DISCLAIMER:I HAVE THIS STOCK IN MY PORTFOLIO AND HAVE BEEN FOLLOWING THIS STOCK FROM 3-4 MONTHS.
Short tata consumer Short at 602 or macd 15min sell indication expect
( As the fmcg sector is following the downtrend could help give momentum )
Sell = 602
sl = 605
target = 681-682 ( 3% target )
Crucial level for swing tradeIt can either give a breakout or fall from the resistance. For watchlist.
Tata consumer Long Tata consumer share for long setup
The dip is a buying opportunity.
My small understanding towards market structure and price action.
