MAYA_MUMBAI
Education

165 is the magical number for Tata Motors

NSE:TATAMOTORS   TATA MOTORS LTD.
957 views
29
957 11
A daily close below 165 is a great shorting opportunity

Why 165 ?

because 165 is the number on daily chart where it has formed a support / resistance three times in the past

What should be the stop loss ?

Simple - a daily close above 165

what should be the target ?

Targets should be taken along the way up-to 150/155 !!
Comment: Presently Tata motors is trading @ 169

Look for a daily close below 165

Remember it is the closing price which is important
Comment: if you like this idea - DO click on the like button so that we will be motivated to publish more such posts
Comment: we still have not got a daily close below 165.

yesterday price went below 165 but closed above 165

so trade not active yet

Hope you understood the importance of DAILY CLOSING VALUES
Comment: Say hip hip hurray

the first target is reached -

wait for the second target
Correct!! Retest of Support multiple times is the price zone to lookout for. Same is the position with Maruti & retests 6500 multiple times.
Reply
@atrehan,

yes , true with maruti also
Reply
IT HAS FORMED H&S PATTERN ON DAILY PATTERN..SHOULD SEE MORE PAIN BELOW 165...
Reply
MAYA_MUMBAI akash918468
@akash918468,

yes , its neither good in Fundamentals , nor in technicals

Only good is that it has a Tata name to it
Reply
akash918468 MAYA_MUMBAI
@MAYA_MUMBAI, Agreed mam.
Reply
its Going up form this level back to 200
Reply
MAYA_MUMBAI I-Fund-Trader
@I-Fund-Trader,

As per my analysis , 165 will be broken in due course

We shall see , probably in the coming week ,

Lets wait and watch the show
Reply
I-Fund-Trader MAYA_MUMBAI
@MAYA_MUMBAI,
Use logic , what is the point in going down which has already in move down by couple of days ,
Most often they brake the point of intersection ( Where the Major Retail believe its an indication or some sort of support or resistance) and then they start moving up
Scrips do not move in the manner people at large consider

the same thing i try to explain a Group ( Lead by CFA) in Mumbai 2 years and i was blocked for telling the truth , they believed so much in this support & resistance concept that they said i am very incorrect , today all of them have gone split and suffering huge loss , trying to learn some kind of harmonic pattern , some kind of indicators , its really painful to fail in the life and then start everything

take a word , market moves in its own pace , it does not have any kind of theory , but one of the theory which suited the best is Elliott wave principal but in EWP also there are time you should use the logic than the theory , because logic is more powerful than any theory for Crisis Management ( Almost all financial instruments are called Crisis Management assets )

Reply
MAYA_MUMBAI I-Fund-Trader
@I-Fund-Trader,

I do combine elliott wave with support and resistance

but here also elliott is subjective

To me the up-move which recently happened in Tata motors was wave 4 because it moved in 3 waves (abc)

I have never found an elliottician who is completely right -

Also i believe in stop losses which i feel is extremely important

I have never seen you writing stop losses in none of your posts

i cannot over-emphasize the importance of stop losses - please take care
+1 Reply
MAYA_MUMBAI I-Fund-Trader
@I-Fund-Trader,

Atleast for traders sake , i advise you to start using stop loss

i know many people who got broke after following you , because you never gave them stop losses

and many of your trades went hay wire

any way never mind , you can start now

better late than never
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out