Tata Motors DVR : Analysis on Chart & Point of Entry
Updated
In weekly chart, breakout is visible , therefore chart analysed on different parameters.
The short term resistance level will be trendline i.e., 10% from current level.
Daily Chart & Point of Entry - For a year, stock was range bound from Rs 180 to Rs 242. Recently price given a breakaway gap and follow up with yearly resistance breakout. Correct entry level will retest level, multiple scenario mentioned in chart.
Technical Indicator – ema, volume and RSI
Thanks
-AJ
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
The short term resistance level will be trendline i.e., 10% from current level.
Daily Chart & Point of Entry - For a year, stock was range bound from Rs 180 to Rs 242. Recently price given a breakaway gap and follow up with yearly resistance breakout. Correct entry level will retest level, multiple scenario mentioned in chart.
Technical Indicator – ema, volume and RSI
Thanks
-AJ
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
Note
consolidation phase.Note
resistance breakoutNote
short term target of 10% achieved.Cup & Handle Pattern but price at resistance.
Book partial profit and re-enter above neckline.
Trade closed: target reached
Trade active
The resistance trendline breakout in weekly chart.Entry at current level or above Rs 303
Stop Loss below Rs 264
Target Rs 373
Note
strong momentum in stock !Trade closed: target reached
target of Rs 373 achieved !! Strong momentum, may face some resistance at ATH i.e., Rs 388
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.