|Sell Range||592 – 582|
|Target||550 – 540|
|Duration||15 – 20 Trading Sessions|
|Potential Return^||6 – 7%|
|CMP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Return^|
|582.3||SELL||592 – 582||550 – 540||610||15 – 20 Trading Sessions||6 – 7%|
# CMP on Oct 01, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 566.
^ The returns are calculated based on CMP#
Tata Chemicals limited manufactures, sells and distributes dense and light soda ash, crushed refined soda, portland cement, sodium bicarbonate, caustic soda, gypsum etc. in India, Europe, Asia and United states. The company sells it’s products under few established brand name Tata Salt, Tata Salt Plus, I-Shakti Salt, Tata Sampann Spices, Tata Shudh etc. Founded in 1939, headquartered in Mumbai India, the Company has a global presence in India, Europe, Asia and United states.
|Sectoral Index||Nifty 500|
TECHNICAL OBSERVATIONS (WEEKLY)
- On the weekly chart, price has been trending in a downward sloping channel over the last twelve months.
- Price is currently near the upper range of this channel. Past price action indicates an expected price to fall from here.
TECHNICAL OBSERVATIONS (DAILY)
- Technically the stock had been moving in the lower top and lower bottom formation indicating positive bias.
- The On Balance Volume (OBV) closed below 15 days OBV Average which is considered a bearish setup and help to propel further downside movement.