Tata Chemicals Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Tata Chemicals Limited stock price ended at ₹1,072.45 on Wednesday, after gaining 0.615%.
(Updated on May 15, 2024)
The Tata Chemicals Limited stock price gained 0.615% on the last trading day (Wednesday, 15th May 2024), rising from ₹1,065.90 to ₹1,072.45. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.19% from a day low at ₹1,067.00 to a day high of ₹1,101.00. The price has risen in 6 of the last 10 days and is up by 0.01% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 36 thousand more shares were traded than the day before. In total, 78 thousand shares were bought and sold for approximately ₹83.33 million.
The stock has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at ₹1,086.15. A reaction back to this level may hold a second chance to get out before further falls.
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TATACHEM.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 3.93%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tata Chemicals Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹1,091.86. On a fall, the stock will find some support from the short-term average at ₹1,064.29. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Tata Chemicals Limited stock
Tata Chemicals Limited finds support from accumulated volume at ₹1,072.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹34.00 (3.19%) between high and low. For the last week, the stock has had daily average volatility of 2.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TATACHEM.BO) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Tata Chemicals Limited to open at ₹1,080.15, and during the day (based on 14 day Average True Range), to move between ₹1,036.66 and ₹1,108.24, which gives a possible trading interval of +/-₹35.79 (+/-3.34%) up or down from last closing price. If Tata Chemicals Limited takes out the full calculated possible swing range there will be an estimated 6.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,072.30 (0.01%) than the resistance at ₹1,175.15 (9.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tata Chemicals Limited stock A Buy?
Tata Chemicals Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.344 Sell Candidate Unchanged
Predicted Opening Price for Tata Chemicals Limited of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| ₹1,080.15 ( 0.718%) | ₹1,072.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TATACHEM.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,114.15 | 3.89 % | |
| R2 | 1,101.16 | 2.68 % | ||
| R1 | 1,093.14 | 1.93 % | ||
| Current price: | 1,072.45 | |||
| Support | S1 | 1,067.16 | -0.493 % | |
| S2 | 1,059.14 | -1.24 % | ||
| S3 | 1,046.15 | -2.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,314.90 | 22.61 % | |
| R2 | 1,178.55 | 9.89 % | ||
| R1 | 1,175.15 | 9.58 % | ||
| Current price | 1,072.45 | |||
| Support | S1 | 1,072.30 | -0.0140% | |
| S2 | 1,061.85 | -0.99% | ||
| S3 | 939.45 | -12.40% |
FAQ
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