Trading setup for Tata Technology
1. Lower Tops and Lower Bottoms: This pattern suggests that the stock was in a downtrend after its initial listing, with each high being lower than the previous high and each low being lower than the previous low.
2. Consolidation: Since July 2024, the stock has been consolidating at lower levels. This typically indicates a period of stabilization where the price is moving within a range, suggesting accumulation by investors. During this phase, the stock might not be making significant gains but is building a base.
3. Breakout: The stock has recently broken above the downtrend line with high volume. This breakout from a downtrend line, especially when accompanied by high volume, is often seen as a bullish signal. It suggests that buying interest is strong and the stock may be poised for an upward move.
4. Bullish Implications: The combination of consolidation at lower levels and a breakout with high volume can be interpreted as a positive signal. It indicates that the selling pressure has subsided and there could be potential for further gains if the bullish momentum continues.
Trade Setup:
Buy Entry: Consider buying the stock if it trades above ₹1040.
Stop-Loss (SL): Set your stop-loss at ₹980 to manage risk.
Target: The target is open-ended, meaning you expect the price to rise significantly, but you will need to monitor for potential exit points based on further analysis or changes in market conditions.
It’s always wise to stay updated with any fundamental changes or news that could impact the stock and adjust your strategy accordingly. Good luck with your trade!
***Disclaimer : This is my personal view, please trade after consultation with your financial advisor. I am neither a SEBI Register RA or RIA.
Regards
Arvind Kumar Yadav, Cfa
Arvind Share Academy
2. Consolidation: Since July 2024, the stock has been consolidating at lower levels. This typically indicates a period of stabilization where the price is moving within a range, suggesting accumulation by investors. During this phase, the stock might not be making significant gains but is building a base.
3. Breakout: The stock has recently broken above the downtrend line with high volume. This breakout from a downtrend line, especially when accompanied by high volume, is often seen as a bullish signal. It suggests that buying interest is strong and the stock may be poised for an upward move.
4. Bullish Implications: The combination of consolidation at lower levels and a breakout with high volume can be interpreted as a positive signal. It indicates that the selling pressure has subsided and there could be potential for further gains if the bullish momentum continues.
Trade Setup:
Buy Entry: Consider buying the stock if it trades above ₹1040.
Stop-Loss (SL): Set your stop-loss at ₹980 to manage risk.
Target: The target is open-ended, meaning you expect the price to rise significantly, but you will need to monitor for potential exit points based on further analysis or changes in market conditions.
It’s always wise to stay updated with any fundamental changes or news that could impact the stock and adjust your strategy accordingly. Good luck with your trade!
***Disclaimer : This is my personal view, please trade after consultation with your financial advisor. I am neither a SEBI Register RA or RIA.
Regards
Arvind Kumar Yadav, Cfa
Arvind Share Academy
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