The price has fallen below the trend line and is now trading within a range. Fresh breakout with volumes above the range can be used for long. Point to take care: Throughout the rally, volume traded is not high.
Take trade based on your analysis
Buy/Short just above/below the marked line.
Typically for intraday start trailing your stop loss from 0.5% towards target
Stoploss is based on your capacity
I usually hedge towards the stoploss direction
if price opens between the target and entry line, I usually dont trade that scrip.
Tata Consumer Products Ltd. is trading ABOVE MID-BOLLIGER BAND.
Technical indicators are BULLISH.
If price trades above weekly high (365) next resistance is (408) and support is 50 day sma (304) on the weekly chart.
Short 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'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.
It 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%
