TATA COMMUNICATIONS LTD

Long

SWING IDEA - TATA COMM

By Visionary_Growth_Insights

Updated

This stock looks good for a swing trade.

Reasons are stated below :

1566 levels acted as a resistance but the price broke that level and now its retesting the same.
Formed a morning star pattern on daily time frame.
0.5 level Fibonacci support.
50EMA support on daily time frame.

target - 1950
stoploss - 1508

Note

price is up by 6% from our buying price.
HOLD, price might retrace a bit.

Note

Price made a high of 10% from our buying price.
It is consolidating right now so we can hold till our targets.

Note

Price corrected and made a higher low and currently is 9% up from our buying price. We can hold this.

Trade closed: target reached

first target achieved 22%, price made a high of 25%+ from our buying price.

Note

we can hold, price is sustaining above 1950.

Note

Weekly candle is a bullish marubozu and it closed above the previous swing.
we can HOLD!

Note

if you're still holding then move your stops to entry price

Visionary_Growth_Insights

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