Tata Consumer Prod. - Chart of the Week

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TATACONSUM has a beautiful structure in the Weekly Timeframe that qualifies for my Chart of the Week idea. It saw Decent Volumes this week and closed above its recent swing high, with RSI and MACD Trending Upwards and Closing Above all Major Moving Averages.

About:
TATACONSUM is one of the leading companies of the Tata Group, with presence in the food and beverages business in India and internationally. It is the second-largest tea company globally and has significant market presence and leadership in many markets. In addition to South Asia (mainly India), it has presence in various other geographies including Canada, the UK, North America, Australia, Europe, the Middle East and Africa.

F&O Activity:
Significant Shorts are getting covered with 1050 PE OI Increasing Significantly.

Trade Setup:
It is Forming Like a Falling Wedge, it can test the upper edge and can give a good swing towards
1186-1190 Levels. So buy on Dips Until it closes below the Swing Low, ideally around the Marked Green Levels.

Target(Take Profit):
Around the Upper Edge of the Falling Wedge.

Stop Loss:
Swing Low Levels around 950-930.

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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.

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Holding Strong in this Market