Tata Motors
When 15min RSI hits its Bounce Area, prices either take support at 50%FR or 61.8%FR, currently its taking support at 50% FR. With that recent low of 507 being a stop on 15 min basis, its a long trade for an initial target of 516 (61.8%FR of fall from 522). Eventual target is 534.
A break of the low of 507, would result in a test of the lower end of the Gap Area 502. Will look for a long entry again at 502.
A break of the low of 507, would result in a test of the lower end of the Gap Area 502. Will look for a long entry again at 502.
Trade closed: target reached
Intraday target of 515 met, day traders should close the trade, a re-entry can be planned later. Risk takers can still play for 534.Trade closed: target reached
The eventual target of 534 has also been met.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.