Tata motors is showing a good flag pattern and I'm long on the share. I've been holding it since October with enough profits already. And I'm still very optimistic on the share. However, for people wanting to enter now I would say they should not rush. Wait for a clear break out of the highest line shown on my chart. This is where the price is on right now. But as you can see this has been an area of resistance in the past. So to make sure you are not entering into a whipsaw, please wait for a clear breakout with good volume from this point. And let it trade there for sometime. Once you get that breakout, I would say a target of 650 would seem pretty modest. And if this proves to be a whipsaw, just buy at 500 and then at 475 if it falls further and then sit back and wait for that wonderful breakout. As shown in the chart, 475 is a very good support.
Thank you, hope this was helpful.
Thank you, hope this was helpful.
Trade active:
Seems like a good break with fair volume on the charts. Good opportunity to buy. Still, lookout for the movement tomorrow to be safer.