TATACONSUMER is ready for a breakdown

15 May 2023

Greetings, I would like to propose a trade idea for you. Upon examining the 1-hour chart of TATA CONSUMER, I have noticed the presence of two trendlines, one on the upper side and another on the lower side. If the lower trendline were to break, it may lead to a long unwinding and potentially reach the 772 level. Therefore, it might be prudent to initiate a short position on the retest candle following the breakdown.