Tata Motors Ltd - Breakout Opportunity

vicky252 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.
Trade closed: stop reached:
Stop loss hit. Closing the idea.

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