TATACONSUM: Upcoming Price Surge Projection
Timeframe: 4h
NSE TATACONSUM has formed a correction on the 4-hour timeframe chart. A closer look at wave A reveals it consists of three distinct waves, indicating it can't be labeled as an impulse. The security has broken below the 50, 100, and 200 EMA, with the Average True Range (ATR) at 15.
Currently, the price is developing wave (iv) of wave C within wave (B). Wave (B) has already reached 100% of wave A, and with bullish sentiment, the price could surge from this point. However, we need confirmation through a breakout of the sub-structure. After wave (B) is completed, traders can use wave (iv) as an entry point to confirm a long setup. Fibonacci clusters indicate potential levels at 1189 - 1246 - 1296 . Risky traders entering right after the completion should confirm their position with a lower high.
We will provide further updates soon.
- KP (Trade Technique)
Tataconsumerproducts
TATACONSUM Wave 4 Seems CulminatedAs you can see the chart there are clear formation of the waves on monthly chart.
Intermediate Degree Waves (1), (2), (3), and (4) has completed.
The Tringle has also been broken out and retested. Now the Price may move towards 925-1090 Range.
The return expected are around 20-23.5%.
The information and analysis provided here is intended for informational and educational purposes only. It should not be considered as financial or investment advice. We are not a licensed financial advisor, and the content provided does not constitute any form of recommendation, endorsement, or solicitation to buy or sell securities, stocks, or any financial instruments.
TATACONSUMER AT SUPPORTYesterday, we saw a Price breakout in Tata Consumer Ltd.
A breakout occurs with a Big Bull candle having good volume.
Currently, there is a pullback to the same levels.
The same levels , would now act as immediate support
Sustaining these levels, stock might test 800 - 810 levels in the coming trading sessions
Pullback trade
Long Trade
Swing Trade
Support @ 774-776
CMP : 778
TATACONSUM is forming triangle patternNSE:TATACONSUM large cap stock is forming triangle pattern.
This fundamentally and financially strong stock is trading 15% below its all time high, and at the support of the triangle pattern.
Hence it seems like a good opportunity to accumulate.
Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.
Profits are not made from following ideas, but by following Risk Management .
TATACONSUMER - Harmonic PatternThere is been a probability of Butterfly Harmonic Pattern on the weekly chart of TataConsumer Ltd.
Positive price action
Price should close above 815 levels on weekly chart, for this probability to unfold
If it unfolds, stock most probably is moving towards 950-970 levels in the coming weeks and months.
Good support at 750-760 levels
Type of Trade: Positional Long Trade
i would be buying on a dip and also pyramiding on the way up.
TATA Consumer Products ReversalThe stock has reached lower trendline and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the lower trendline. The target is placed near swing high.
This is a high risk trade as the market is in a overall bearish sentiment. Plan Trades Accordingly.
TATA CONSUMER PRODUCT - BUYDATE: 18 MAY 2021
INSTRUMENT: TATACONSUM
TREND: BUY
TIME FRAME: day
CMP: 653
BUY ABOVE: 658
STOP LOSS: 640
TGT 01: 680
DISCLAIMER:
We are not S E B I registered analysts. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.