Tata Motors has been moving in a confined range since the past 4 months. It has formed a bullish ascending triangle within the range and might be on the verge of breaking out giving us a good swing trade.
Levels for the trade are:
Entry = Rs 339+
Short term target (Intraday or 1-2 day target after the breakout)
Target 1 = Rs 349.95
Medium term targets (2-5 weeks after breakout)
Target 2 = Rs 373.7
Target 3 = Rs 400
Note:
1. If the breakout is weak i.e. not with a strong volume, it may fail. However the first target should be still achievable.
2. It may retest the trend-line one final time before giving the breakout.
3. A reversal from Rs 338-339 is also possible in case of a sell-off. Wait for the breakout.
TATAMOTORS
TATAMOTORS
Levels for the trade are:
Entry = Rs 339+
Short term target (Intraday or 1-2 day target after the breakout)
Target 1 = Rs 349.95
Medium term targets (2-5 weeks after breakout)
Target 2 = Rs 373.7
Target 3 = Rs 400
Note:
1. If the breakout is weak i.e. not with a strong volume, it may fail. However the first target should be still achievable.
2. It may retest the trend-line one final time before giving the breakout.
3. A reversal from Rs 338-339 is also possible in case of a sell-off. Wait for the breakout.
TATAMOTORS
TATAMOTORS
Trade active:
Entry achieved in the first 5 minutes today, Target 1 almost hit @Rs 349.7.
Comment:
Target 1 hit, Day high @Rs 349.9
Trade closed: target reached:
Target 1 hit on the first day after activation, no further movement expected due to negative news.