Excellent Turnaround seen in Tata Chemicals
After a steep fall it touched the bottom Support level of the Parallel channel
Again expected to Rally towards the Top of the Channel
NSE:TATACHEM
TATACHEM trade ideas
TATACHEM : Looking for long!TATACHEM is looking for a great buying opportunity & has the descending channel within it TG expecting 1160
Tata Chemicals: LONGBuy Tata Chem at CMP. Best buy around 890
Target 1150, 1490, 1820
SL 800
Good bounce from 21 EMA
TATACHEM 38% Gain in 26 Days, how far it can goOn 2021.09.23 Shared to buy TATACHEM with following details
Buy Option 1 : Buy @ 823 to 840
Buy Option 2 : Buy @ 759 to 774
Stop Loss :
Option 1 10%
Option 2 : As per your risk profile.
Option 3 : weekly Closing below 678
Risk : MEDIUMHRISK
Note : breakout will be confirmed at 893
and now you can see it has given 38% Returns
Will Tatachem reach new heights? Will Tatachem reach new heights?
Reasons/Traits :
• Channel pattern breakout seen today
• Bullish since last 4 days
• Good strength in RSI and strong uptrend is seen
• Perfectly following wave analysis
• Price is making higher highs
What can happen next :
Scenario 1 : Price sustaining above 890/892 can take the price to 920/940/960 levels to complete ABCD pattern
Scenario 2 : Price breaking 892/890 levels can go back to test 0.236/0.382/0.5/0.618 levels
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
TATACHEM - Breakout NSE:TATACHEM
Tatachemical has broken previous month high bullish on all Technical Indators
T1 - 960
T2 - 1000
SL - 860
TATA CHEM GOOD BREAKOUT WITH GOOD VOLUME DELIVERYBreakout from resistance of 880 with good volume.
Relative Strength is increasing, with good support at 796.
It's heading towards 965 then 1070 in short term and 1170 then 1275 in medium-long term. #TradeWithTrend
TATA Chemicals Ready for a violent move.After previous rally from 540 levels stock went sideways 680 to 800 levels.
Stock went into consolidation from March 21 to June 21.
This consolidation phase is called as time correction. There are 2 types of correction Price correction & Time Correction .
Here it was Time correction. Time correction occurs when stocks moves up sharply in short time.
If you see move of TATA Chemicals it moved from 540 levels to 780 levels which is huge 45 % move in just 17 trading sessions after 15 Feb 21. This was very sharp move in given span of time.
Now the recent breakout was with huge gap up of 7 8 %. This shows there much more steam left. Historically stocks have given bumper returns when new trendy move starts with a gap up or there is a breakout with gap up. such gaps are not filled.
Not expecting TATA chem to fill up this gap.
Check Titan below.
Since then Titan Gave multi bagger returns within few days.
Now Currently stock is available at supports. Hence stop loss will be lower
Target achieved ! 20% gain!!The stock was given on 22 Aug at 839 and today it hit the target of 1000. HIT the like button if you liked ideas and do FOLLOW for more ideas. I am attaching the idea suggested below.
BULLISH GAP AREAOn the daily chart, the stock has rebounded very sharply from its “Bullish Gap” area (802-775) levels
On the weekly time frame, the stock has surpassed its six week’s consolidation range on a closing basis indicating resumption of the up trend
The stock is well placed above its 20, N24 September 50 and 100 Day SMA which reconfirms upside momentum
The daily Bollinger Band buy signal also reconfirmed rising momentum
The daily and weekly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength.
The above analysis indicate an upside of 930-955 leve
TATA CHEM long trade. Chart has broken out on the weekly TF.
Look to buy on pullback in smaller TF.
Trade plan:
Since, breakout in weekly
Buy on 15M close above 970
Add on 75 min close above 970
BEST BUY @ 950
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Sl 920~
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Target plotted on the chart - based on 1.5/1.618 FIB extension of previous ATH to swinglow.
TATACHEM FLAGDISCLOSURE
This is only for educational purpose
This is not a recommendation
I am not SEBI registered
Do not TRADE/INVEST basis what I publish here
I am not responsible for your loss or gain
It is prudent to assume that I have ulterior motives in publishing this Idea
I and my clients might or might not have a position, I and my clients might or might not have a opposite position
Positional Swing Trade 27 Aug 2021C&H BO Done on 06 Aug 2021 with a GAP.
Volumes dried selling pressure over since 16 Aug 2021.
Expecting Bounce from current levels
Or Further consolidation if need be should be above 800 Levels.
#tatachemicals consolidation breakoutbreakout after consolidation, lag pattern, bullish momentum, trend and good volumes
gap support exit downside for positional play.
TataChem BO Retest and PullbackTatachem channel BO retest and confirmation on the daily chart. looks good for swing entry at cmp.
POSSIBLE BREAKOUT CANDIDATE!POSSIBLE BREAKOUT CANDIDATE. Above 938. next immediate targets are 960/975.
TATA CHEMICAL moving upward after consolidation 15MTATA CHEM after being traded in range bound area now trading upward, it can go for retest till 925 and can give a good reversal shot with high green volume.
I've took the trade with SL being last candle's low. you can also trade it for the target of 1000 or more. fundamentally very good company you can hold it for investment purpose too..
These levels are for educational purpose only.
BUY BUY BUY@Thakurji46 From Trader for Trader💸 Buying the Dips and Selling the Rips #TrendAnalysis📈 #PriceAction👨💻 #ChartPattern✍️
LONG ON TATA CHEMICALSTata Chem has made an ATH on 24/9/21 and this stock can continue to trend up!
Potential swing trade!
