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Tata Chemical E waves + Price action breakdown !!The location of trading activity. At the end of the chart, on the Upper right, we can see that the trading activity moves in the bottom, part of the value area, between the control and the value Low. This is uncharacteristic for an Uptrend. Additionally, the price rotations are becoming narrower, it is starting to rotate between the control and value low. In an Uptrend, when price rotations become small and they happen in the Lower part of the value area, the trend is most likely to end. The narrower the rotations, the bigger the break of value will be. Why is this? Because the market is becoming too efficient in facilitating trading between buyers and sellers. Sell Below : 290 Target 284-276-260-240 Possible even Thanks
NSE:TATACHEMShort
by Trading_buddy
Tata Motor Diagonal Triangle in play? Decent RRA diagonal Triangle pattern may be on verge of completion in Tata Motors. Diagonal Pattern is a reversal pattern that leads to prices completely reversing the distance traveled by the pattern. The pattern has been traced between 192 and 163.5. We may expect the prices to move back to 192 level once the pattern completes and prices breakout. The time taken to reverse the pattern is usually 1/3rd to 2/3rd times the time taken to trace the pattern. Based on this we may expect this reversal to be complete between June 17-21. A break below 159 may invalidate the pattern. It may be a good idea to buy Tata Motors around 165-166, with stop loss of 159 for target 192. Conservative traders may wait for 170 to break before entering the trade, the stop can be placed below the low created before the break of 170 level.
NSE:TATAMOTORSLong
by yash_utmani
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