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buy tatacomm around 545-547
it made a tweezer bottom pattern
buy if it breaks PDH with a stoploss at PDL
decending chart pattern
16 OCT 2018
LOOKS WEAK BELOW 479 SL 486
(ALL LONG ABOVE 506 ONLY)
till now this has fallen least in telecommunication sector
on weekly scale it has broken important trendline and last candle is a doji price moving above doji high and low will decide its further move.
my view - price should break now and make new lows
As per charts
This move is coming , it has dropped and now dribbling , One can look for entering on Reversal candle daily base , and take profit once moves to 550 Zone , also put the stop after 2 hour of move to brake even , if this failed to move up it will be next to DHFL expect huge brake down
Wait for set up to form and then take trade
Big move when break out is expected
inside bar in weekly tf. aggressive entry can be done with break of high with sl at low.
Sell below 518, SL 534, Target - Sqaure off EOD
MAKE IT SIMPLE
strong trendline support on monthly chart .
TATACOMM is testing the multi year trendline. Awaiting for a breakdown/Reversal
Tata communication is at a good support level making a "W" formation and can be a good long at current levels of 534 with a stop loss of 528 and for a targets of 565-590.
for educational and study purpose only.
trade on your risk
SL BELOW 530 CBSL
Weekly charts combined with major MAs give good trading/investment ideas. In fact 200 WMA is much reliable for direction.
a) Price crossed 200WMA on 11.10.2013 which changed the long term trend. Price rose steadily.
b) Between August 2015 to May 2016, the stock made several attempts in and out 200 WMA just to keep the integrity of the trend and then rose ...
Expect a short covering and small move up
Book your profits with trailing stop