Tata Chemicals might move towards 625/635 in the coming days. One might buy on dips as an upmove might be on the cards as seen from the converging move on the MACD. A confirmation on RSI has already been obtained.
Tata chemical is above cloud on 125 min chart, the chakou is above the price as well as free to move up, along with a positive tenken-kejun cross. Indicating a possibility of upmove in this stock.
Is a more Risky trade but one can buy small qty at 580-85 levels wih stop of 569 and target of 600-620-640.
TATA CHEMICALS - Though getting Good (S) at 550, and a move past 573 may take it to 590 then 605 levels in ST,
Unless close firmly above GAP DOWN area 633 -646 , chances of scrip breaking 550 and
fall towards 523 , 501 and even 445 level not ruled out in coming months.
NSE:TATACHEM has formed double bottom chart pattern with 573 as its neckline. Highest Put OI is at 560. If the stock can sustain above 573, it can go until 620 on first hand. Join our telegram channel t.me