TATACHEM Volume tested in S&R - supply found

4 בינו׳ 2018

TATA Chemicals was rangebound since mid october. The volume was tested a few sessions ago and it gapped up, but again going down on lower volumes. It was most probably a volume test by manipulators and they've found supply, so they'll push the stock lower till supply is cleared.

Best strategy is a strangle between 700 & 760.