On the 1H chart, we draw Fibonacci taking swing highs and swing lows. It's clearly visible that TaPo takes support at 0.236 retracements. If it sustains and respects these support levels, a further upmove to the levels where it faced resistance (i.e. the recent high tested yesterday 10/11/21).
Up Flag is clearly visible. Need clear volume supported close above 511 . For safety purpose can keep 1% margin and buy on volume supported close above 515 with stop loss below 480 on daily closing basis. Target is 480 + pole height.
Disc : it's not an investment advice to buy or sell
Tata Motors Limited TATAMOTORS as on 11 Oct 2021 appears strong bullish. You can see clearly. Its shows signs of strength in the upcoming day, then this trend can continue in the next trading session as well.
Tata Motors
There was a NEWS today in afternoon with regards to Chip shortage effecting JLR car production and that it might take a toll on profitability for the Company. The NEWS took a heavy toll on Tata Motors instantly.
Now let me go by disclaimer, this is analysis in hindsight which is easier as the outcome is there in front of us now.
Also, I have not...
Selection of stocks by dynamically adding and removing based on their Relative Strength with respect to Benchmark , may be a very disciplined way to Do-It-Yourself rule based Equity Portfolio management.
Price action is all about supply and demand and identifying them to take advantage of the trend. I have given an explanation on how to identify demand and supply zone . If you have any query, comment below and I will try to solve it.
Grateful for everyone!
In Tata Motors you will notice that after the trendline breakout there was a panic selling,
traders who have short there and thought it was just a retracement when the price was reversing were trapped
This is also a fakeout Setup
Where smart traders went long!
If you are passionate and want to learn this kind of Professional Price Action Techniques You can contact me
