Tata Motors Ltd - Breakout Opportunity
Updated
Date: 6-May-2024
Rating: Buy - Positional Trade
LTP: Rs. 1,016.20
Targets: (1) Rs. 1,065 --> (2) Rs. 1,155
SL: Rs. 995.00 on daily close basis
Technical View:
•
TATAMOTORS is in its primary uptrend and was recently going through it's secondary downtrend.
• After touching the high of 1,065.60 on 5-Mar-2024, it has retraced 14% to 921.20 level.
• On 2-May-2024,TATAMOTORS has broke out from its secondary down trend with higher than average volume.
• Since 25-Apr-2024,TATAMOTORS is trading above 20 DMA and 21 DEMA.
• RSI and MACD has already given cross over and trading at 58.43 and 8.93 respectively, indicating bullish momentum in coming days.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Publishing the ideas for learning purpose only.
Rating: Buy - Positional Trade
LTP: Rs. 1,016.20
Targets: (1) Rs. 1,065 --> (2) Rs. 1,155
SL: Rs. 995.00 on daily close basis
Technical View:
•
TATAMOTORS is in its primary uptrend and was recently going through it's secondary downtrend.• After touching the high of 1,065.60 on 5-Mar-2024, it has retraced 14% to 921.20 level.
• On 2-May-2024,
TATAMOTORS has broke out from its secondary down trend with higher than average volume.• Since 25-Apr-2024,
TATAMOTORS is trading above 20 DMA and 21 DEMA.• RSI and MACD has already given cross over and trading at 58.43 and 8.93 respectively, indicating bullish momentum in coming days.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Publishing the ideas for learning purpose only.
Trade closed: stop reached
Stop loss hit. Closing the idea.
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