Stock is trading near 200DMA where we got nice Fib ratio cluster area 435-455. Cluster area is of Rs.20 so let the stock show some reversal first and wait for buying trigger according to your trading plan.
Tata Chemicals after breaking the up trend has been trading in bearish mode and formed a falling wedge which is bullish sign, It is on the edge of breakout and may break the wedge pattern upward any time. There may also possibility to go further down to retest again if market open red and can touch the crucial 50% fibo. support again 448.00 finishing weekend....
After a massacre of Tata Stock, On Friday we saw some shortcoverting in tata stocks.
Trend is broken down, hence one should use this bounce to short.
Price retraced to 200 EMA and took resistance , also there is a Fiblevel which will act as resistance.
Short Target 1- 534
Target 2- 528
SL- 550.
NSE:TATACHEM
Buy with A target of 610 over 4-8 weeks and with a stoploss of 525. do consult your advisors before taking trade.
Sale of the urea business has helped de-risk the company from policy uncertainties
Investors with a two to three year perspective can consider buying Tata Chemicals. The sale of the urea business in August indicates that the...
The stock is showing good frequency at the MLs so one can short at current level. The trade offers a good Risk to reward ratio even for the first target.
It is been observed that the price action is ranging in a short term downward trend channel, which it breaks out from today indicating high buying pressure. Now, the price action shall reach out to 570 levels in order to form a double top.
Previously Tata Chem trending in a long term uptrend which gives a positive signal on this breakout. I would recommend to buy...
