Short Terrm View for Tata consumers. Bullish Box Breakout - Swin
Guys short analysis for Tata consumers.
Tata consumers is consolidating since long time within range of 554 & 654. Suggesting a long entry based below points.
1.High of 654 was broken on 6th April 2021 with Good volumes
2. if you see on Daily chart Price is moving in price channel as marked.
3. RSI also Bullish on Daily, weekly as well as on Monthly chart.
4. This can be Good Risk Reward ratio. Suggested
Entry at 664
SL is 640
First target would be around 700.
700 can be major resistance and can see retracement there so start booking little bit early of 700!
Levels are on Day closing basis.
*
Usually for Bullish box breakout the targets are of the height of the box / range so ideally we should target for 750-760 in short term, but swing traders can book early!
Tata consumers is consolidating since long time within range of 554 & 654. Suggesting a long entry based below points.
1.High of 654 was broken on 6th April 2021 with Good volumes
2. if you see on Daily chart Price is moving in price channel as marked.
3. RSI also Bullish on Daily, weekly as well as on Monthly chart.
4. This can be Good Risk Reward ratio. Suggested
Entry at 664
SL is 640
First target would be around 700.
700 can be major resistance and can see retracement there so start booking little bit early of 700!
Levels are on Day closing basis.
*
Usually for Bullish box breakout the targets are of the height of the box / range so ideally we should target for 750-760 in short term, but swing traders can book early!