TATAINVEST: How to catch a BIG move using a simple chart pattern with Indicator
Sep 29, 2023
We had applied ADX indicator on TATAINVEST and were able to capture a 18% move in just 3 days of span. You can also use these techniques to identify stocks with momentum for short-term trades.
It is possible to capture massive moves in stocks using price patterns along with simple indicators like ADX. Check out how we selected TATAINVEST.
We published the following research on TATAINVEST pre-market on 26th September 2023 in "The Financial Waves Short Term Update” which our subscribers receive pre-market every day.
TATAINVEST Weekly chart (As on 26th September 2023)
TATAINVEST Weekly chart (Happened as on 29th September 2023)
Wave analysis (As on 26th September 2023):
TATAINVEST has been moving higher recently and intact in strong uptrend. In the previous session it closed with a massive gain of 6.09%.
On the weekly chart, in the previous session prices formed a bullish candle. A weekly close above 2885 level will confirm breakout of the rounding bottom pattern. We have shown ADX indicator which gives an indication if the stock is trending or in a trading range. The low readings of ADX indicates that the stock is in a range. The adx of this stock is 45.46 giving an indication of a trending market. The reading above 25 means strong directional strength.
In short, trend for this stock is positive. Use dips towards 2910-2940 as a buying opportunity for a move towards 3250-3300 levels as long as 2800 holds on the downside.
Happened
The stock moved as we expected. After a dip, prices showed a sharp rise and achieved our target and moved way above it and made a life time high near 3521 levels which is more than 18% in just 3 days of span.
Using price action along with simple chart patterns, one can predict price moves in stock with high accuracy.
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