Tata Chemicals ltd on a daily chart stock price is
making higher high pattern, also its trading above 20 DMA, indicate stock is
well placed above the support level. On a daily chart stock price at Rs. 566.20
has given the breakout of upper level of symmetrical triangle pattern at Rs. 547,
indicate stock price can rally towards Rs. 610 level most likely. Momentum oscillator
MACD has given the positive crossover, which add more bullishness for the stock
price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 567 for the target of Rs. 610 levels, with Rs 547 stop
loss on closing basis.
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