Upwards channel broken down and retested. Shaded areas mark support / resistance Fibo level also coincides with the 1st support area. Will wait and see if it breaches the 1st level
downwards wedge... possibility of upmove if break out happens. Currently took support at strong level. (A 2016-17 support resistance level) RSI also showing divergence.
TATA GLOBAL Stock seems to have broken down from a rising wedge. But last daily candle shows buyers are strong at the support level indicated in horizontal blue line. This is a support which was earlier resistance also and has been tested multiple times. Also 50 EMA is also currently at the same support line. Mostly stock will bounce upwards, so upwards move...
If crosses the yellow lines then next stop is the resistance box marked.
Trying to break out from triangle formation... ALso movement is confined to a box Need to wait for breakout.
Let's see if it breaks green trendline downside... Has tested it thrice already. If moves upside then needs to cross 366 levels to move upside to targets in yellow.
Need to watch for breakout on upside if possible. Then targets yellowed out....
Broken out of falling channel.. Possible to hit targets marked in yellow if crosses 1st yellow line.