amankavi
Long

Tatat Motors - inverse rounding bottom reversal..

NSE:TATAMOTORS   TATA MOTORS LTD
Scrip is seen to be getting interest of buyers after prolonged downtrend and has rebounded again from crucial support level forming rounding bottom pattern, trading volume is increasing after relative to the gap created
Planning to enter as per 30mins chart for intra-day if the scrip manages to cross the neckline aiming towards TP
Day chart also showing uptrend from crucial support levels..
Rest shown in chart..
Long position to be taken only after scrip manages to cross the consolidation zone or channel and breakout as shown in Daily chart
Comment: Rounding bottom formation again..
Can the Bulls dominate Bears on the scrip which isnt showing much bullish surge ?
Comment: Scrip managed to reach the neckline..Can aim (intra-day) towards TP if bullish surge continues however, Spinning top or doji has formed at the top
rest in charts..
Note: Do check momentum/swing before entering the trade.
Timings are the most crucial aspects for entering and exiting at right time...
Comment: Spinning top or doji has formed at the top which can result in bearish retracement so can aim for short if the momentum continues..

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