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TATACOMM: Ascending Channel Breakdown & Critical Support LevelsPattern Identified: The stock is trading within an ascending channel (parallel trendlines) that has been in formation since early 2021. Recently, it appears to be approaching the l ower support of the channel , signaling potential risks of a breakdown if selling pressure continues. Key Technical Observations: Channel Breakdown Threat: The price has been trending within an upward-sloping channel. However, it recently fell sharply from the upper boundary of the channel and is now testing the lower boundary. A confirmed breakdown below the lower trendline could trigger a further downtrend. Critical Support Levels: The ₹1,783 level has held strong as an immediate support zone. If broken, the next support lies at ₹1,693 , a significant historical level from previous price action. A break below ₹1,693 could lead to a deeper correction, potentially targeting the ₹1,500-1,400 zone. Resistance Levels: If the stock manages to bounce, it will face overhead resistance at: ₹1,873 (previous resistance) ₹2,000 (psychological barrier) ₹2,200 (channel top) Moving Averages: The stock is currently hovering near its 20-week EMA , which aligns with the lower channel support. It is also far above its 200-week EMA , indicating long-term uptrend strength, though the current pullback should be monitored closely. Volume and RSI: Volume spiked during recent sell-offs, suggesting a significant distribution phase. The RSI (Relative Strength Index) is nearing oversold territory, which might lead to a short-term bounce. However, a lower RSI could indicate bearish momentum persisting. Outlook: A channel breakdown may indicate a trend reversal, with the possibility of a deeper correction towards ₹1,500 if key support levels don’t hold. Traders should watch for a confirmed breakdown or a bounce off the lower channel to time potential trades. Conclusion: The stock is at a pivotal point, testing the lower boundary of its ascending channel. A decisive move below the ₹1,783 support could accelerate the downside, whereas a successful defense might offer a good risk-reward for a bounce. Investors should closely monitor price action and volume for signs of confirmation.
NSE:TATACOMM
by AngshumanSaikia
Tata Communications Swing Trade – VCP Breakout with Bullish MoveOverview: Tata Communications (NSE: TATACOMM) recently broke above a key resistance level of INR 2070, confirming a Volatility Contraction Pattern (VCP) breakout. With the current price at INR 2126, this presents an ideal opportunity for swing traders to capitalize on the bullish momentum. Technical Analysis: VCP Breakout: The stock has been forming a classic VCP (Volatility Contraction Pattern) over the last few months, characterized by a series of price contractions with each pullback becoming smaller, indicating diminishing volatility. The breakout above INR 2070 on high volume confirms the end of the contraction phase, signaling that buyers are now in control, which makes this an ideal entry point for a swing trade. Moving Averages: The stock is trading well above its 50-day and 200-day moving averages, which are trending upwards, further supporting the bullish outlook. This indicates the presence of a long-term uptrend and adds to the trade's credibility. RSI & MACD Indicators: RSI: Currently at 65, showing that the stock still has room to move higher before entering the overbought zone, suggesting further upward potential. MACD: The MACD line is above the signal line and rising, supporting the breakout confirmation with positive momentum. Volume Analysis: The breakout was accompanied by a surge in volume, which is a strong signal of sustained buying interest. This increase in volume validates the VCP breakout and strengthens the likelihood of continued upward movement. Price Prediction: Given the strength of the VCP breakout, Tata Communications could see an upward move towards INR 2200 in the short term, with the potential to reach INR 2250 if momentum continues. The immediate support now lies at INR 2070, the previous resistance level, which could act as a cushion in case of pullbacks Trade Plan: Entry: Enter at the current price level around INR 2126, as the breakout above INR 2070 has been confirmed. Stop-Loss: Place a stop-loss below the breakout level at INR 2050 to protect against false breakouts. Target: First target at INR 2200, with a secondary target at INR 2250. Risk/Reward: The risk/reward ratio is favorable at approximately 2.5:1, offering a good opportunity to ride the post-breakout momentum while maintaining a disciplined stop-loss strategy.
NSE:TATACOMMLong
by manik7
1
TATA COMMUNICATIONS - A swing trade opportunity of 25%Trend - up in all higher time frames. Weekly RSI - Took support at 62 and moving up. Stock has given a bullish penant breakout after consolidating for 5 months - Sep - 2023 to Feb 2024 Retest of the breakout has happened. Now weekly and daily price actions shows the upward momentum. Entry - One may wait for daily previous supply levels - 2015 to be hit and take an entry as per reversal in lower time frame. Purely based on risk management - SL % 1827 - would act as a strong support. 7.5% from current levels.
NSE:TATACOMMLong
by Rugminik
TATACOMM: A Consolidation Breakout with Strong VolumeHey traders! Today, we're looking at #TATACOMM, a stock that has recently broken out of a consolidation pattern with strong volume and support levels. As you can see from the chart, #TATACOMM has formed a consolidation pattern and has recently broken out of this pattern with a strong daily close above the breakout level. This indicates that there is significant interest in the stock and that it may be poised for a bullish move. Additionally, there appears to be strong volume buildup and a subsequent volume breakout, further confirming the potential for a bullish move. It's always encouraging to see strong volume when a breakout occurs, as it can indicate that there is significant buying pressure behind the move. Furthermore, there is strong support at 1220, which can act as a key level for traders to manage their risk. If the price drops below this level, it may indicate a false breakout and could lead to further downside. Based on the breakout and the support levels, there are potential targets for the stock at 1345, 1366, and 1400+. However, it's important to keep in mind that these targets are based on technical analysis and market conditions can change quickly, so it's important to monitor the stock closely and adjust your strategy accordingly. In summary, #TATACOMM has recently broken out of a consolidation pattern with strong volume and support levels, indicating that it may be poised for a bullish move. Happy trading!
NSE:TATACOMMLong
by Jha_Nidhi
TATA COMMUNICATIONS LTD - Long Term + Cup & Handle Breakout Soon📊 Script: TATACOMM (TATA COMMUNICATIONS LIMITED) 📊 Nifty50 Stock: NO 📊 Sectoral Index: NIFTY 500 / NIFTY MID CAP 📊 Sector: Telecommunication 📊 Industry: Telecom - Infrastructure Key highlights: 💡⚡ 📈 Script is about to give cup & handle breakout, technically script is looking good for long term investment. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 1258.95 🟢 Target 🎯🏆 - 1400 ⚠️ Stoploss ☠️🚫 - TRAILING ⚠️ Important: Always maintain your Risk & Reward Ratio. ⚠️ Purely technical based pick. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat🔁 Happy learning with trading. Cheers!🥂
NSE:TATACOMMLong
by radha_23
1