This stock looks good for a swing trade.
Reasons are stated below :
1566 levels acted as a resistance but the price broke that level and now its retesting the same.
Formed a morning star pattern on daily time frame.
0.5 level Fibonacci support.
50EMA support on daily time frame.
target - 1950
stoploss - 1508
Trend - up in all higher time frames.
Weekly RSI - Took support at 62 and moving up.
Stock has given a bullish penant breakout after consolidating for 5 months - Sep - 2023 to Feb 2024
Retest of the breakout has happened.
Now weekly and daily price actions shows the upward momentum.
Entry - One may wait for daily previous supply levels - 2015 to be hit and...
if it crosses 1769.30
Entry price: 1769.35 ( reward of 13.50% with risk involved 6.80%)
stop loss: 1749.05 ( risk involved is 6.80%)
buy this stock only one can handle risk of 6.80%
this is my stock idea and i am entering in it with 6.80% risk, if one cannot handle 6.80% risk please do not enter into it.
I am not SEBI registered individual , please do your own...
Looks amazing to me - Nice basing formation right at support.
I expect this to move to new ATH and beyond. Expecting minimum 10% returns on this.
SL will be a daily candle close below ₹1652/-
Also, if you apply Stochastic RSI, there is a clear bullish divergence forming on Daily.
Hey traders! Today, we're looking at #TATACOMM, a stock that has recently broken out of a consolidation pattern with strong volume and support levels.
As you can see from the chart, #TATACOMM has formed a consolidation pattern and has recently broken out of this pattern with a strong daily close above the breakout level. This indicates that there is significant...
📊 Script: TATACOMM (TATA COMMUNICATIONS LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: NIFTY 500 / NIFTY MID CAP
📊 Sector: Telecommunication
📊 Industry: Telecom - Infrastructure
Key highlights: 💡⚡
📈 Script is about to give cup & handle breakout, technically script is looking good for long term investment.
📈 One can go for Swing Trade.
⏱️ C.M.P 📑💰- 1258.95
🟢...
Tata communication strong resistance zone is 1400 level keep eyes on this level when price comes to this level. can take short or long trade if it breaks up or get reject from this level.
Already trading above trendline breakout.
Has shown strength in the volatile market.
Buy at current levels.
Strictly follow stop loss.
Need to keep tracking closely as market conditions are volatile nowadays.
Trading idea for the stock
Buy: 1293
Target: 1316
Stop loss: 1282
Profit: 1771
Loss: 847
Risk/Reward: 1:2.09
Quantity: 77
The stock has moved out of the support are which once was a resistance zone and should trigger an upward move.
R1 - 1315.85
R2 - 1338.15
R3 - 1377.30
S1 - 1254.40
S2 - 1215.25
S3 - 1192.95
The stock has reached lower trendline and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the lower trendline. The target is placed near swing high.
