Technical Analysis of Tata Technologies (NSE) Based on the provided chart, here’s a breakdown of support, resistance, Fibonacci levels, trend analysis, and target/stop-loss levels from a short-term, medium-term, and long-term perspective.
- Key Technical Levels Support Levels:
624.81 (Major support based on Fibonacci 0.786 level)
670.42 (Intermediate support near Fibonacci 0.618 level)
Resistance Levels:
703.32 (Fibonacci 0.5 retracement level, immediate resistance)
727.40 (Key resistance level, breakout needed for an upward move)
797.38 (Major resistance and possible long-term target)
- Fibonacci Retracement Analysis The stock has retraced from higher levels and is currently consolidating in the 0.5–0.618 Fibonacci zone, which acts as a strong accumulation area.
If the price holds above 670-685 levels, an upside breakout can push the price towards 727 and then 797.
If the price fails to sustain above 670, then the next major support is at 625.
- Trend Analysis The stock previously followed a downtrend (shown by the dashed trendline).
However, recent price action indicates a consolidation phase and an attempt to break above the trendline.
If price sustains above 700-727 zone, a bullish reversal is confirmed.
- Short-Term, Medium-Term & Long-Term Views 🔹 Short-Term (1-2 Weeks) View: Consolidation with breakout potential.
Resistance: 703 → 727
Support: 670 → 625
Target: If 703 is breached, 727 is achievable.
Stop-Loss: Below 670 on a closing basis.
🔹 Medium-Term (1-3 Months) View: Bullish if price sustains above 727.
Resistance: 797
Support: 670
Target: 727 → 797
Stop-Loss: Below 625 on a weekly closing basis.
🔹 Long-Term (3-6 Months) View: Bullish if 727 is decisively broken.
Major Resistance: 797, then 842.
Support: 624-670.
Target: 797 → 842.
Stop-Loss: Below 624 on a monthly closing basis.
Final Thoughts Bullish Bias Above 703, major upside expected if 727 is broken.
Neutral to Bearish Below 670, major support at 625.
Volume Confirmation Required for a breakout.
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