Mr_Financial_Literate

TataMotors: Support Zone

Long
NSE:TATAMOTORS   TATA MOTORS LTD
NSE:TATAMOTORS

Buying opportunity on Tata Motors as the price is near support area .

SUPPORT AREA (280 Level Price): Place from where the price starts moving up after fall.

Has formed a strong bullish candle the previous day with a long wick forming a Hammer . This shows the Bullish trend in the price.

CANDLESTICK PATTERN (Candle of 24th Aug): Individual or multiple candles can guide you to know the strength of the market and trend reversals also. This candle with a long wick shows the bullish move and shows bulls are stronger than bears here.

Indicators:

Stochastics:
Stochastic indicator fast line (Blue) has crossed the slow line (Orange) and both the lines are have come out of an oversold region.
Stochastic above 80 is an overbought region and below 20 is considered as an oversold region.

RSI:
Relative Strength Indicator has just jumped by touching an oversold region and shows the buying interest from bears.
Similar to Stochastics RSI also has overbought and oversold regions which can be helpful to take a trading decision.

All the analysis can be done by adding these indicators to your chart. This analysis helps us to improve the probability of trading which eventually helps you to gain profits in the market. However, this is not a recommendation to buy this but to make you understand high probability trading.

Kindly DM me if you need any assistance on Stock Markets.









Comments