Tata Chemicals Ltd – Bearish Trend with Short-Term Pullback
The stock is currently in a broader downtrend, but a short-term bounce is visible from lower levels. Let’s break it down 👇
🔎 Technical Observations:
• Clear downtrend with lower highs & lower lows
• Recent sharp sell-off followed by a bounce from support zone
• Price still trading below key resistance levels
• Volume spike near bottom indicating temporary buying interest
• Momentum indicators attempting recovery but still weak overall
🔑 Key Levels to Watch:
• Immediate Resistance: ₹640 – ₹684
• Major Resistance: ₹719 – ₹754
• Immediate Support: ₹615 – ₹580
🚀 Upside (Pullback) Targets:
• ₹684
• ₹719
📉 Downside Scenario:
If price fails to sustain above ₹615, the downtrend may continue towards:
• ₹580
• ₹545
📈 Trading View:
This is likely a pullback within a downtrend, not a confirmed reversal yet.
👉 Better to wait for confirmation before taking aggressive long positions
⚠️ For educational purposes only.
— AALGO BREATHS 📉