TATACHEM trade ideas
Tata Chemical : Elliott Wave AnalysisTata Chemical seems to have completed its Wave 4 correction and now it might be going for Wave 5. Wave retracement is between 0.236 and 0.382. If we analyze the Wave 4 correction in details it looks like a Zigzag where Wave b has retraced around 0.618 and Wave c has extended exactly around 100% of Wave a. And now the price is above the DMA lines which gives a reasonable surety of correction being over. If the analysis is proven correct we may see minimum 920 levels and if get extension 980-1000 is possible. Invalidation level is 670
TATACHEM ::: HIGH RISK BULLISH TRADEH I G H R I S K T R A D E.
10 MAY 2021
INSTRUMENT: TATACHEM
TREND: BUY
TIME FRAME: DAY
CMP: 683.80
BUY ABOVE: 697
STOP LOSS: 681
TGT 01: 730
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TATACHEM LONG INTRADAY 18 MAY,2021Dear trader,
If u look at the chart TATACHEM (analysis based intraday only) the TATACHEM Buy at 720 and Target at 735
Best Buy at 716.
Our Best Buy is based on high quality research and when the instrument reaches this level , it’s a jackpot trade.
Best Buy level might be executed or might not be executed.
The chart clearly indicates Bullish Trend you can also see the candle stick patters for more indepth analysis.
In Intraday most important thing is to enter and exit points.
Our signals are based on analytics, algorithms, mathematical derivatives.
Always be a responsible trader, kindly trade only when you have maximum opportunity in the market with minimum risk and with keynotes like data, analysis and proper strategies.
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Tata Chemicals - Breakdown from H&S PatternTataChem broke the Head and Shoulder pattern with decent volumes. Looks like a candidate for sell on each rise for probable tgts of 655/625/600. SL should be on any closing abv neckline (710). Do look out for oversold indicators as well, as it might give temporary bounces.