Tata
Chemicals Ltd on a daily chart price is making higher high and higher low pattern
also stock price is trading above the 20 DMA, indicate positive outlook for the
stock price. Technically on chart stock price at Rs. 489 is trading near the breakout
of downward sloping trend line, any trade or closed above Rs. 491, price can
rally towards previous high swing, which look most likely.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate above at Rs. 491 for the target of Rs. 553 levels, with Rs.
468 stop loss on closing basis.
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