Tata Chemicals - Small movement

Tata Chemical has seen some significant correction since its previous high that it almost reached twice between October and February last year. The stock has corrected ~25% since then. The stock retracted 12% after it reached it s low at 187.

• The stock is now at 38.2% in the Fibonacci charts. A good resistance level.
  
• The stock is still trading below its 200 day moving average, which is still not a good sign for the stock
• MACD is on the positive zone, though there is some tapering in the height of the column bars
• RSI is moving into the zone of being expensive.
• The accumulation/distribution is showing some strength in this movement, which a good sign as investors/speculators are not using this movement to get out of the stock
  

The targets for the stock would now depend on the next movement in this stock. It has to break 210 and possibly 215 before the movement is a confirmed one. Though not too excited as this will be the resistance in this stock (~50% Fibonacci retracement level). Enter with caution as the downside is at 180 levels (~10% downside)