TATA CHEMICAL : Scrip Breaks down from Corrective channel. As mentioned in our earlier postings , one more down move looks pending.
Keeping 620 as "Positional SL", short can be initited on any rise towards channel Bottom.
In EST , one can trade short on any rise towards BO channel with SL above 602 Closing.
Break below 550 will accelerate fall. Till then , 570 then 550 will act as strong "S" temporarily for some time.
TATACHEM
Disclaimer: I am not a qualified Technical Analyst. Please do your own analysis before taking any Investment decisions.
Keeping 620 as "Positional SL", short can be initited on any rise towards channel Bottom.
In EST , one can trade short on any rise towards BO channel with SL above 602 Closing.
Break below 550 will accelerate fall. Till then , 570 then 550 will act as strong "S" temporarily for some time.
TATACHEM
Disclaimer: I am not a qualified Technical Analyst. Please do your own analysis before taking any Investment decisions.
Holding strong and formed a solid Double Bottom. Now move past 620-22 negates the Bearish view.