#Tatachemical

Increase in futures OI
Increase in Delivery
Increase in CA OI
Trading above all moving averages
Super Trend positive

Problem : Daily RS still below Zero

I will look at it for short term swing till daily RS goes above Zero for long term swing.

New combo scan by me using @mystockedge

Stocks with amazing quarterly results and strong price action.

Keep them in your watchlist, especially in falling markets.

Good, Strong and Resonable Stocks (GSR) for your trackings.

Created using Combo Scans of @mystockedge

A thread on Price action and how to identify stocks showing strong price action.

For me price action is when you answer the What,When,Why,How and Where of price movement of any underlying.

Its a language you use to communicate with the underlying.

Key Parameters thread

1/n

Short term price action is judged when the underlying is crossing precious day high or low. Why last day action is important?Because there are enough short term traders who act at these levels,especially if that day had lots of activities showcased by volume and delivery.

2/n

Monthly high, low, close are again important as the stocks are typically evaluated on monthly basis for mid term performance. Operator building large positions will react when market breaches these critical levels.

3/n

Just like monthly, 52 week i.e yearly data is also critical as a symbolic performance of an underlying for long term actions.

4/n

VWAP literally helps you to judge the behavior of operator. Typically that the price at which operator has build positions. If you combine VWAP with closing, you will be able to judge the probable demand and supply zone of any underlying.

5/n

My #FIPA combo scan

Stocks showing good quarterly business performance and strong price action.

One of the most simplistic stock scanning engine for Indian markets is at @mystockedge , its an ATM Machine.

#TATACHEM - #Tatachemicals #positional buy - TradingView -

#Tatachem
ready to hit 800 from current levels.

closing above 800 will lead to 1000++

@chartmojo @SUM_Dhamija @Ankiit001

I traded Tata Chem with 3x my normal position size today....Why ? Bcos of the setup. This is a setup i like a lot & have been successful 70% of the times - 3ib + NR7. If you get it on weekly it is even more powerful. Basically a price compression & waiting for spring action (1/n)

Secondly, today futures price O=L & wasnt broken in the 1st few mins which was like a confirmation. (A friend pointed out same wasnt true in cash, but it didnt matter then as volumes had started to build up)
Thirdly, price was resting at 21ema for the past few days and not (2/n)

ready to breakdown.
Fourthly, Max Ce Oi was @730 almost 10.93L which made the RR fantastic here.
Lastly, as per Dow theory - Price was making HH and HL's since beginning of May
If you think trading is easy & you can rely only on a single factor...think again ✌️ ( n/n)

#TataChem

#TATACHEM -- Kuchh Tufaani hone wala hai .

cc- @Vishvesh03