Tata Chemical - Channel Breakout
It is been observed that the price action is ranging in a short term downward trend channel, which it breaks out from today indicating high buying pressure. Now, the price action shall reach out to 570 levels in order to form a double top.
Previously Tata Chem trending in a long term uptrend which gives a positive signal on this breakout. I would recommend to buy it after a correction as it shall minimize the risk of the position.
Target: 570
Stoploss: 525
Risk Reward: 1:1
Previously Tata Chem trending in a long term uptrend which gives a positive signal on this breakout. I would recommend to buy it after a correction as it shall minimize the risk of the position.
Target: 570
Stoploss: 525
Risk Reward: 1:1
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.