Tataconsumer
TATACONSUM ::: BULLISHH I G H R I S K T R A D E
DATE: 18 MAY 2021
INSTRUMENT: TATACONSUM
TREND: BUY
TIME FRAME: 3 HR
CMP: 653. 35
BUY ABOVE: 658
STOP LOSS: 645
TGT 01: 679
TGT 02: -
DISCLAIMER:
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Tataconsumer looks good for swing trade.NSE:TATACONSUM
TATACONSUMER on Daily chart tested a trendline and moving up again.
Counter is looking good for swing trade, as far as targets are concern we can follow Fib extensions.
I will prefer to keep my Stop Loss below 455 which is below last major swing low.
There is not much to tell here with setup as I prefer to keep it as simple as possible so every one can understand it.
Tataconsume @ overbrought zoneTata Consume had recently shown very good bullish rally and reached it's exhaust levels. this week there will be pull back and atleast it has to come closer to 20 sma.
levels are marked on the chart.
Disclaimer: This view is personal for study purpose and any trade taken is individuals own risk.
TATA CONSUMER | BULL FLAGLast week we had expected a breakout above the hourly consolidation. However the stock went into a sideways consolidation on daily time frame basis forming a bull flag like continuation pattern. Tata Consumer Products have recently broken our above all time high and after the breakout the stock has been consolidating sideways into a bull flag continuation pattern. A breakout above Rs 438 opens target of about Rs 474 on the upside.