TATA 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
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
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.