Tata communications has been consolidating above 850 levels for almost 3 years now. The script has shown good accumulation in range of 850-1500. On charts you can see Inverse Head & Shoulders formation which is a bullish pattern. First target will be the length of height of the head till neck line. Add this length height post breakout near 1375 levels, which comes around 2000 which is 40% upside. Till this script is above 1100 levels this can possibly reach 2000 first. The targets can be revised once 2000 levels are achieved based on the momentum. Expecting the momentum to gain in this script in coming days .
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The script has given a confirmed breakout of the chart pattern . The next level to see is all time high above 1550+ I will review this after all time high is crossed.
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Hi All,
As I said, I will review it above 1550+ levels..here I am :) The script is nicely moving with volumes ( most important ) and still its not overbought and looking really strong on weekly charts. If one wants to enter any dip of 4-5% from 1550 levels would be a good time to enter again . The stop loss can be trailed to 1350 levels on weekly closing basis.
Next I will review this once it crosses 1750 levels .
yes i have been analysing this chart in same manner , being an amature in technical analysis i have taken entry a bit earlier when it did a fake out , on lower time frame . i have been holding it as it didnt hit my stoploss , and i didnt have signal to exit as per my rules . kunal bhai your analysis is helping me understand when and how the momentum is build and how to save time in such scrip
Kunal_TA
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Much appreciated @meetsaholiya for the feedback and sharing your learning with the investing community 👍
i have been holding it as it didnt hit my stoploss , and i didnt have signal to exit as per my rules .
kunal bhai your analysis is helping me understand when and how the momentum is build and how to save time in such scrip