Confirmed breakout on weekly charts, stock will look to test higher levels from here. These levels are good enough for anyone who wants to take a long trade with minimum risk. Buy is recommended keeping the levels mentioned on charts in mind.
As you can see in 1 hour chart , Price have brokrn the major trend line support
Price was moving in falling channel and then break that channel at up side
Now if the price break the privious high then i will be looking for the long position
As all know tata motors is moving in good up trend and now it is taking the retracement
and as pet my analysis that red line will work as the support here and after if that falling wedge pattern brake at upside we can initiate a long trade
Stock has given a clear inverse head and shoulders pattern breakout on weekly charts in today's session and looks pretty much ready to approach higher levels. Buying looks to remain intact and long positions can be taken.
BSE Ltd. had an inverse head and shoulder breakout and then is re-testing the breakout levels. As long as it holds Rs.590 (also our Stop Loss) it should be poised for gains. Keep first target at Rs.880 for this one. The chart looks really good and I do not see a reason for it to correct even on fundamental basis.
This indicates that there was a significant sell-off during the week, but that buyers were able to push the price up again. The large sell-off is often seen as an indication that the bulls are losing control of the market.