Tatachem Breakout done.
Aggressive traders can start accumulating or else wait for the retest/gap fill which has a lesser probability as:
- Broke the resistance with a huge gap up
- Big volume Spike
- moving avg. no where near a red candle
- good news surrounding with 1st quater results surge.
Stock is in a good zone to accumulate with a good investment plan.
•Moving average is starting to show Bullish movement.
•healthy consolidation, Fibonachi Shows good support at 0.5 and .0382.
• company with strong fundamentals and value.
Accumulate now and wait for the breakout.
If its a reverse pattern, red confirmation candle could be the stop loss.
Break out and retest done with good volume spikes and bullish indication from moving average.
- surprise earnings +
- Double dividend +
Downside side : -
Banking sector is too much dependent on governance and social environment. Though, No negative news have been rotating in the market, its still a bit controversial stock.
Entry - cmp
BO and retest done. Showed a bearish candle at retest signaling fake breakout but resistance act as strong support and its now showing bullish movement with strong breakout.
Moving average and rsi both are bullish.
Earning calls expected tomorrow, If results are good it inturn can boost the stock.
SBI jumps 16 places on fortune list.