December 02, 2015

TATA Chem 02-12-2015 Too early to predict a breakout?


TATA Chemicals have a multi-year high trend line of 438.5rs, this level was broken last year and stock formed a multi year high of 526rs but could not hold the level and retraced to 364rs. Only to recover quickly and now again the stock is trying to re-test its previous multi-year high level.

Can it break the level, if yes can it test the all time high of Rs 526 and surpass that. Only time will tell all the answers. I am positive on stock and have some investment position.

Note: The above is not a research report but information as available on public domain and it should not be treated as a research report. Any information discussed on the blog is for information purpose only. People are themselves responsible for any profit/loss arising on trading in the stock market.

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Disclosure: It is safe to assume that I have the stock in my portfolio/trading position and hence my point of view will be biased. Readers should consult their financial advisory before any investments.

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