|Sell Range||650 – 630|
|Target||590 – 580|
|Duration||15 – 20 Trading Sessions|
|Potential Return^||7 – 9%|
|CMP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Return^|
|635.15||SELL||650 – 630||590 – 580||655||15 – 20 Trading Sessions||7 – 9%|
# CMP on Jan 22, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 585.
^ 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 a Weekly chart, the stock has been trading with its downward sloping channel trend line since last many months and it seems that it could continue with its ongoing move.
- Current price is on the verge of two resistance trend line. One is horizontal and another one is inclined. We expect the price to fall further from here.
- Overall trend and the broader pattern are bearish and any reactive pullback might be temporary. A selling from here can be a great opportunity.