Tata Motors - Importance of Reverse Gear @307 - 300

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)

Trade active: 09:31 Hrs 19th June 2018

Last 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 2018

Last 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 2018

Last 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 2018

Last 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 2018

Last 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 2018

Last 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 2018

Bank 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, CMT
India Regional Manager
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out