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Tata Chemicals

Accumulate @ CMP 285, Target 330-340, Stop Loss 270



Analysis: Tata Chemicals has smartly broken out of rounding bottom (cup & handle) with high volume on weekly basis charts.  As per rounding bottom breakout Tata Chemicals has started the 3rd wave of recent formation. We see after rounding bottom breakout prices will rally in very bullish trend and 3rd wave rally will be make new high levels as near term first target of 330-340 and long term 380 in upcoming period.

We advice to initiate this trade with a stop of 270 for a target of 330 to 340 at current market price 285.




(05.03.14)


TATA Chemicals (Weekly Chart)



























Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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