Tata Chemicals Ltd – Daily Technical View
The stock has been in a prolonged downtrend, but recent price action indicates base formation near the demand zone. Price is now attempting to move above short-term averages, suggesting early signs of trend stabilization.
🔍 Technical Observations:
Formation of a double-bottom–like structure near ₹740–₹750 zone
Price is slowly reclaiming the 20 EMA, indicating improving momentum
Bollinger Bands are contracting, hinting at a potential volatility expansion
RSI has moved above the 50 zone, showing strength building up
🔑 Key Levels:
Immediate Support: ₹750 – ₹735
Resistance Zone: ₹790 – ₹820
Positional Upside (on breakout): ₹900+ / ₹1,000+ (as per structure projection)
📈 Outlook:
As long as the stock holds above ₹750, the bias remains positive-to-range bound.
A sustained close above ₹820 with volume can trigger strong upside continuation. Failure to hold support may push the stock back into consolidation.
⚠️ Educational view only.
— AALGO BREATHS
Tata Chemicals Ltd – Daily Technical View
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