TATACONSUM trade ideas
SHORT - TATA CONSUMERShort below 350 with SL around 384 and target of 300.
Disclaimer : I am not a SEBI registered investment advisor. All views expressed are for educational purpose only. Kindly consult you financial advisor before trading or investment. I may or may not have position in the stocks described for trading or investment view.
Tata Consumer - The new kid on the block Tata's FMCG company after merging with a part of Tata Chemicals. One of the lowest valued FMCG companies.
Have a small pullback bias so sharing 2 trades for this setup.
Short at CMP for target of 323. SL 362
If SL gets triggered buy above 365 for target of 400.
Long term bullish, short term fancy a pullback
Disc: I own this stock in my core cash portfolio.
TATA CONSUMERIt has reversed from a Bearish Harmonic Alt Shark in hourly time frame and done a min 38% retracement. There is a possibility of a trend line breakout ONLY if it manages to break "above 328" for 360 where it has a Bearish Harmonic Butterfly. Failure to cross would see continuation of retracement till 50-62%
TATA ConsumerKeep in watch list for Monday - Small SL - Below Trend line - Target - upper trend line
Reenter once breakout on any side
TATA CONSUMER .....Buy only above 334 levels for the targets 355 370
High risky can initiate sell also till it closes 334
TATA Consumer 30 Min I think the stock will move in 296-300 zone & then in 267-270 zone to fill gap. There is a decline in Volume after a significant rally.
Tata Consumer : Turning BearishTata Consumer: Weekly Chart.
Tata Consumer bearish now, sell signal spotted on 17 feb, my selling was activated on 20 Feb.
Expecting to come till BREAKOUT zone btn 315-325, it could be good demand area for target of 350-360 with SL of 310 for short duration may be few days or 1 or 2 weeks.
Some more down side level estimates is btn 275-285. If it reaches till that level fresh long can be made with strict SL of 260.
