BREAKOUT IN TATA-MOTORS
Updated
BREAKOUT in TATA-MOTORS with huge VOLUME can be seen in daily timeframe after the double bottom, double top formation , so we can name this as a double top, double bottom breakout ?!. okay.. no one will ever want to miss a rally like this, so, I'll suggest you to go long at CMP OR one can also wait for the pullback/retest/backtest. If shows any pullback or retests/shows 357-365 levels can also enter, risk reward ratio also looks favorable. go long with the strict stop-loss of 345 level (only on candle closing below basis) for the above given targets of 395,442 and 458. ultimate target is 600 if your view is for 1 year.
ENTRY :- CMP (CURRENT MARKET PRICE) OR IF YOU GET IT NEAR AROUND 357-365 ZONE ALSO CAN BE A GOOD PICK.
STOPLOSS :- 345 (CANDLE CLOSING BASIS)
TARGET :- 395, 442, 458 (FOR SHORT TERM/MID TERM).
(fibonacci study used for determining the targets/levels)
THIS VIEW OF MINE IS PURELY BASED ON TECHNIAL CHART AND FOR EDUCATIONAL PURPOSE ONLY, BEWARE OF NEWS AND OTHER FACTORS WHICH CAN AFFECT THE MARKET SENTIMENT OR PARTICULAR STOCK/SECURITY.
ENTRY :- CMP (CURRENT MARKET PRICE) OR IF YOU GET IT NEAR AROUND 357-365 ZONE ALSO CAN BE A GOOD PICK.
STOPLOSS :- 345 (CANDLE CLOSING BASIS)
TARGET :- 395, 442, 458 (FOR SHORT TERM/MID TERM).
(fibonacci study used for determining the targets/levels)
THIS VIEW OF MINE IS PURELY BASED ON TECHNIAL CHART AND FOR EDUCATIONAL PURPOSE ONLY, BEWARE OF NEWS AND OTHER FACTORS WHICH CAN AFFECT THE MARKET SENTIMENT OR PARTICULAR STOCK/SECURITY.
Trade active
Keep holding the position.
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