Tata Coffee Ltd. recently faced resistance from 200 SMA in the daily chart and witnessed breakdown from rising wedge pattern.
Likely to stay weak in the near term until it stays below 75-80 zone.
Probable support in the near term comes at 70 and then at 59. Keep a watch.
tatacoffee is fundamentally a strong script. ideally i wouldnt expect this to break below 90-89 levels. if it does then further downside is possible, but if it sustains this level then price should move upwards
Price breaks-out from resistance @ 97.7 approx with heavy volume with a throwback to the resistance in low volume thus expecting the price to move forward. Stop loss is placed accordingly.when prices move away from the resistance, trail your SL at every new low.
Hi Friends, in my opinion TATACOFFEE making for buy trade but still there is one more downside dues before shooting up let's see how it playing out
***Use Proper Risk and Money management Rule if you don't had a one please watch the play don't trade
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