Tatamotors a good long term candidate?

Tatamotors gave a very good breakout near 172 levels and seen the 186-188 levels after making head and shoulders in daily charts. However it declined 6-7 points on last trading session. Is it a technical correction or heading for a major slump? Head and shoulders and Fib extension suggests an possible upside of 205-207 whereas slow stochastics suggests a bearish view.


But basis the current trend, Tatamotors is an good potential midtterm long candidate with a target of 200-205. Good to go long on declines near subsequent Fibonacci retracement levels 178/175 or upon recovery. Hedge your positions properly to avoid damage to your portfolio. I would recommend check with your financial advisor before taking a trade.

Comment:

Comment: Disclaimer: Objective of this post is to educate and help all members earn profit from trading. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE/BSE/MCX market basis above recommendations. All the stock picks are momentum picks chosen using technical indicators and for education purpose only. I am not responsible for profit and losses or SEBI audits arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades or trade at your own risk.

Comment:

As predicted Tatamotors made low of 178 and high of as good as 198 even though for a second. Net ROI was 2.8090% in net movement basis.