Tata motor has broken major support of 152.7 ( 78 % retracement level from previous upward rally) and formed three bearish candle below it which confirms accelerating downward moment, and showing it will test old low of 129.15 and will go below further. This is no more pullback wave as it broke 78% retracement level but its new primary downtrend wave. If you look at indicator MACD: its wide open below zero and quite a room for downward, Volume: good number at breakout near 152.
Trading price: 144.3
Stop Loss: 155
Short term Target: 131
Long term Target: 101
Another Fundamental reason you might be aware of like it’s negative result, overall industry slowdown.
Trading price: 144.3
Stop Loss: 155
Short term Target: 131
Long term Target: 101
Another Fundamental reason you might be aware of like it’s negative result, overall industry slowdown.
Trade active:
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Trade active:
Short term Target 131 achieved.