dravya

Tata Motors - Daily Trendline

Short
NSE:TATAMOTORS   TATA MOTORS LTD
Tata Motors -
1. Here you can see, NSE:TATAMOTORS is on resistance on daily trendline.
2. Also, you can see the earlier resistance area which might turn out to be support and help in breaking out of the downward sloping trendline.
3. Otherwise if it doesn't find demand, we may see levels of the previous swing lows.
4. There's a divergence with the OBV osciallator indicator too. indicating weakness.
Comment: Broke the trendline. Exited short trade. No new longs.
Comment: Trendline break continues upmove. didn't take any position though.
Comment: Look for the break of the trendline.
Comment: Currently taking support though, will make a new chart.

Comments