Tata Motors appears to have finally broken out its 6 months of consolidation in the form of a triangle. The breakout looks promising although it's important to check this breakout is sustainable before entering long.
It is sure breakout! My Gann Method identified this stock as Monthly pick from 176, level opening of this month. Also now it looks like H &S breakout with neck at 198. targets by Gann are 233/265. Previous res 282. Also based on H&S targets are 228/267(neck to RS/Neck to H top).
StockShaala
⋅
@viveksamant, Thanks so much for your detailed analysis.Its very encouraging to see such comments!
I'm glad Gann Method identified it much earlier! It's very interesting to see how the same chart can be analysed in many different ways and still point to the same direction! This is amazing and is certainly sign of a strong pattern. Lets wait and see how this turns out now :)
PriceTimeSquare
⋅
@StockShaala, My pleasure! Gann Angles are showing strong resistance at 240-243 zone. So I think that should be a target. It may correct/consolidate before going for the next targets.
PriceTimeSquare
⋅
@StockShaala, I hope you guys made most of TAMO run!
StockShaala
⋅
@viveksamant, Its nice to hear from you! Thanks for your active participation. Its things like this that inspires us to post analysis.
At Stockshaala, we practise what we preach :) Yes, we are making the most out of this analysis. I hope you are making the most as well!