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Tata Communication falling Wedge breakout(Reversal Pattern) with good volume

Discussion in 'Chart of the Week' started by chethankrc, Aug 28, 2014.

  1. chethankrc

    chethankrc Active Member

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    Hi All,

    Observed Tata comm falling Wedge breakout with good volume support and closed at 376 Rs

    Target: 400-410 Rs
    SL : below 350 Rs

    Thanks,
     

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    chethankrc, Aug 28, 2014
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  2. shwetagnema

    shwetagnema Active Member

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    I would like to enter it after 390 as it is very strong resistance point
     
    shwetagnema, Aug 29, 2014
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  3. shabbir

    shabbir Administrator Staff Member

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    Exactly. 390ish to 400 is good resistance level.
     
    shabbir, Aug 29, 2014
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  4. chethankrc

    chethankrc Active Member

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    For the pattern I had mentioned the best entry point is between 370-380 and 390 is not the rt place to enter because its near resistance point 400.
    In the falling wedge pattern, the downward sloping resistance if we extend further it will also act as resistance i.e arond 360 in this.
     
    chethankrc, Aug 30, 2014
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