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Consolidation

M&M : AnalysisNSE:M_M is trading around 850 revels which is shy above Fib's Golden retracement level. The possibility of Upmove is good as well as consolidating for a few more days, buyer's accumulation will lead to upward momentum. Market might move up till the demand zone is attained. Another possibility is Breaking down to supply zone. Chances of happening so is thin but possibility is their because of the current market scenario where NSE:NIFTY and NSE:BANKNIFTY both are falling good every day. If NSE:M_M sustains this period then upward momentum will come soon and we can see all-time highs very soon. The imbalance zone between the rise and fall has been covered up by the market as of now, let's see what it brings on next trading session. PS: NO analysis is 100% follow your RR and trade with head in the game. PPS : I'll update as soon as I get into this trade.
NSE:M&MLong
by Umang_Sharma
TATA Motors : AnalysisTata motors has given 90 degree breakout after consolidation for several months. Possibility of breakdown is good. Note:- This analysis is done on weekly time frame hence traded accordingly. Creation of possible supply zone at higher level depicts the upcoming fall. If this zone is a supply zone then market coming down and retesting 400 levels is a possibility. Possibility of consolidating at higher levels for few more days is good. Wait for it to close below recent low 470 levels which tata motors is holding for quite a while now. Fib retracement is showing market is taking support from 0.286 levels. 380 to 360 is the golden zone. I will enter into this trade and update this analysis here. PS: Always risk what you can afford to loose no analysis is a sure shot. Trade as per your risk appetite and RR ratio.
NSE:TATAMOTORSShort
by Umang_Sharma
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