Tata Consumer currently forming a bullish pennant pattern. Let me tell you something about bullish pennant pattern a little. A bullish pennant is a technical trading pattern that indicates the impending continuation of a strong upward price move. They're formed when a market makes an extensive move higher, then pauses and consolidates between converging support and resistance lines. So Tata Consumer has taken converging support and now it is moving towards it's resistance area. So we can play this move which can give almost 100 points rally from here. So Buy from current price 720 and Stop loss can be placed at 650, Target we can see 800/825.
Well let me tell you something this is very good stock to invest and hold. So if anyone wants to go invest for long term can go with same given level.
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Kommentera
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Check the accuracy guy's for every trade given here,,all has given good move. Here in tata consumer also, when i have posted it was at 720, now trading at 865,,almost 145 points up. Now it has given a breakout of bullish pennant pattern,,we can expect new highs very soon in it. Next resistance will be 897. Hold this gem for short term to long term. If any body like my work then like, follow and comment. thanks
Very good analysis. Thank you for sharing.
Regards,
Vanathi