Expecting an upmove in TATA MOTORS above 425
TATAMOTORS
. Currently the stock has been consolidating for many days but RSI Indicator was forming higher lows which looks like a positive sign.
Also a 200DMA around 425 level.
The 390 -370 range a good support
Along with that there is a trend line (indicated in a redline) which is being respected multiple times by the stock as support and resistance. Which is even taken resistance today.
So its better to closely watch a breakout above 420 - 425 levels with good volume could be a positive sign for up move. Also current market sentiments look good
Also will be watching the RBI meeting on Nov 3rd, expecting no sudden rate hike decision as the meeting is scheduled to give govt report on the RBI failing to keep the inflation under prescribed range range.
TATAMOTORS
. Currently the stock has been consolidating for many days but RSI Indicator was forming higher lows which looks like a positive sign. - The stock is taking resistance at 420 level(indicated by green line)
Also a 200DMA around 425 level.
The 390 -370 range a good support
Along with that there is a trend line (indicated in a redline) which is being respected multiple times by the stock as support and resistance. Which is even taken resistance today.
So its better to closely watch a breakout above 420 - 425 levels with good volume could be a positive sign for up move. Also current market sentiments look good
Also will be watching the RBI meeting on Nov 3rd, expecting no sudden rate hike decision as the meeting is scheduled to give govt report on the RBI failing to keep the inflation under prescribed range range.
