buy for short termTATA CHEM has been trading sideways within a range of 700-800. During this period, it was always above 50 EMA
However It today went below its 50 EMA and saw a greater volume than previous average. And from past trend of 3 rallies, whenever it has gone below 50 EMA, a major bull rally has occurred.
I'm new so might be wrong (highly appreciate constructive feedback)
My Levels:
Buy around closing at 710 apprx
Stop loss : 700
Short Target: 735 (BTST)
Major Target: 760, price can go above this also