Tata Motors DVR : Analysis on Chart & Point of Entry
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.
Comment:
consolidation phase.
Comment:
resistance breakout
Comment:
short term target of 10% achieved.
Cup & Handle Pattern but price at resistance.
Book partial profit and re-enter above neckline.
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
Entry at current level or above Rs 303
Stop Loss below Rs 264
Target Rs 373
Comment:
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
Strong momentum, may face some resistance at ATH i.e., Rs 388