TATACHEM (Tata Chemicals)

Watchout for support breakdown head and shoulder formation.

Tata Chemicals is involved in the business activities of Manufacture of organic and inorganic chemical compounds.

The stock has formed a Head & Shoulder pattern on charts. Last day selling with huge volumes indicates that there is high probability of breakdown on charts.

The breakdown may be supported by its results for the last quarter which was not as expected. EPS has decreased by 98% QoQ. However, Sales has increased by 15% QoQ during last quarters.

Watch out for Support Breakdown. short only when 700 is broken for a targets of 650-600 with SL at 730

Long only after 730 is broken on the upper side.

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