Tata Motors - Importance of Reverse Gear @307 - 300
Updated
Reverse gears are equally important as normal gears like 1-2-3-4 & 5. If you don't have space upside or room in front in that case we know how reverse gears become boon for drivers.
Last Update Review - Bearish Shark@320-325 - Let us enjoy motor's ride
In technical analysis - the term called polarity reversal is important which is support turning into resistance & resistance turning into support which was the case with 307 level as motors broke that level & retested that level back but this time there was a spike@307.65 as it always need fuel to move next (stops kept exactly above 307) so I suggested we wait for few minutes to see whether it holds 307 - I was not surprised that it did not hold above 307 & I suggested -we are not interested to buy below 307 levels.
Dropped to 304 level - we booked partial & below 304 - suggested to book close to 300 - Bingo!
Finally, taking reverse gear@300-301 zone as suggested - to zoom at day high@311 - 18th June 2018 finally closing at 308.75 for the day - All this was updated as Plan -4 -additional update
Trading Strategy - What Next ?
Plan 1 - Look to go long / buy if 306 -307 provides next support for targets 311 -314 -320-325
Plan 2 - Look to go long / buy if 303 - 304 provides support below 306 for same targets upside - 311 -314 - 320-325
Plan 3 - Look to long if crosses above 311 & holds above 311 for target 314 - 320
Plan 4 = Plan 3 (Last Update - Selling in 320-325 - In the bearish shark zone)
Last Update Review - Bearish Shark@320-325 - Let us enjoy motor's ride
In technical analysis - the term called polarity reversal is important which is support turning into resistance & resistance turning into support which was the case with 307 level as motors broke that level & retested that level back but this time there was a spike@307.65 as it always need fuel to move next (stops kept exactly above 307) so I suggested we wait for few minutes to see whether it holds 307 - I was not surprised that it did not hold above 307 & I suggested -we are not interested to buy below 307 levels.
Dropped to 304 level - we booked partial & below 304 - suggested to book close to 300 - Bingo!
Finally, taking reverse gear@300-301 zone as suggested - to zoom at day high@311 - 18th June 2018 finally closing at 308.75 for the day - All this was updated as Plan -4 -additional update
Trading Strategy - What Next ?
Plan 1 - Look to go long / buy if 306 -307 provides next support for targets 311 -314 -320-325
Plan 2 - Look to go long / buy if 303 - 304 provides support below 306 for same targets upside - 311 -314 - 320-325
Plan 3 - Look to long if crosses above 311 & holds above 311 for target 314 - 320
Plan 4 = Plan 3 (Last Update - Selling in 320-325 - In the bearish shark zone)
Trade active
09:31 Hrs 19th June 2018Last Price@309.40
Crossed 311 - Made High@311.80 - "But" failed to hold above 311 - Plan 3 as suggested above.
Trade active
09:40 Hrs 19th June 2018Last Price@312
Be careful in longs above 312 - if fails to hold above 311 - follow plans as suggested above.
Trade active
11:02 Hrs 19th June 2018 Last Price@309.40
As suggested @09.40 Hrs - be careful in longs above 312 - I was correct - price dropped from 311.80 to 309.25 - Looking for support zone as suggested in the update.
Trade active
11:04 Hrs 19th June 2018Last Price@309.40
Pardon High was 312.80 levels.
Trade active
11:23 Hrs 19th June 2018 Last Price@307.50
"O" lala - Motors slipped to 306 -307 as suggested - making its first attempt to refill the tank. Plan 1 is active with stops below 306 ------------- Enjoy -we use selling profits below 312 to keep the stop loss below 306 for next buy call in 306 -307 & turn our position for upside.
Trade active
11:31 Hrs 19th June 2018Last Price@306.35
Just check if it fails to hold above 306 levels - in that case leave the position & try for next buy attempt in 303 - 304
Trade active
11:59 Hrs 19th June 2018Last Price@306.40
Never Hurry in a drive - always drive with a cool mind. Has crossed upside & above 306 from 305.25 lows - we will wait & see if the current low@305.25-305.35 holds if sustains above 306 or close for next 15- 30 mins in that case as well we will take long / buy for targets 309 -310 & book our profits & out. Going above 311 we will plan to re-enter again later.
Trade active
12:14 Hrs 19th June 2018Last Price@306
Just dropped close to lows of 305.25 -305.35 - We had only 0.50 - 1.0 point to lose if taken long / buy position - One can take that risk with stops below current low for 309-310 targets.
Trade active
12:35 Hrs 19th June 2018 Last Price@305.20
Current Low@304.30 - Took 1 point stop in risky call & came to the zone -close to 303 -304 which is very important to hold if at all it has to move upside for 309 -310 target & above 311 we shall re-enter or plan later to take buy call.
Trade active
14:50 Hrs 19th June 2018Bank Nifty & Tata Motors Update
Bank Nifty Last Price@26298
Both at reversal point - TM at 303.30 & Bank Nifty @26225 - So likely if Bank Nifty Can Hold 25980 then awesome gartley- 26800 & bove 26800 for 27150+
Trade active
15:20 Hrs 19th June 2018 Do keep in mind - U.S. - China Trade War Risk & trade - manage your risk properly. Don't hurry up for any trade. Have a lovely day ahead.
Trade closed manually
Thanks
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
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Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
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