- trading in ascending channel since Feb 2016
- currently at lower end of channel
-trading below 50 day EMA
- trading below 200 day EMA
View going forward
- stock is at major trendline support & if the stock holds on to current level then
- the stock may see a bounce towards either 50 day EMA currently around 278 or...
On 5th Sept we discussed 2 possible scenarios for Tata Motors that we are looking at...
1st was Tata Motors holding 374 on the downside and jumping towards 405-416 levels
The stock made a low of 374.05 precisely and has managed to crawl back above 405 levels...
Now if we see...
Price action should find some support a the current levels.
It's oversold and at previous support level.
Also the news today should be very much positive for the company.
I with 77.5 call at 3.4. Expect spot to reach 85 in next couple of weeks. That is almost 10% upside on the spot.
Last time when stock was at 482, we were not very confident for a big move past 505.
The stock made a high of 509, came down till 466 and is now back at 483 levels. How ever this time the chart looks much better.
After the stock made a low of 432 on...
- Last year on 31-May-2016 the stock opened with a significant gap up & closed at 459 up 38 points from its previous day close of 421
- This year On 8-Aug-2017, the stock opened significantly lower and closed at 380 down 36 points from its previous day close of 416
- the gaps have occurred from similar levels 421 and 416 respectively...
Double bottom in monthly charts.
Breach of trend in weekly and daily.
Heavy volume on green days only.
The company just bought back shares last week around 395-400 levels.
are few reasons to long on this counter.
i will also mention - apart from trading, i see potential for investment on this counter too with target of atleast 650.
The company shall be a leader...
Since the rise from 9455 to 10137 levels Fibonacci levels have played a vital role is identifying key support & resistance levels...
Levels------------------------------------ Fib retracement-------------------------- Fib Level
- closing low at 9710----------------- 61.8% of 9448-10137 -----------------------9711
- high of 9947...
Chart is pretty simple...
Nifty has been trading in the up trend channel since March 2017
Currently it is at the upper end of the channel...
Rest explained in the chart...
Plan your trade accordingly...!!!
Take care & safe trading...!!!
- 20 day EMA crossing below 50 day EMA
- 122-124 important resistance level
- 112-108 important support zone
- below 115 Head and shoulders pattern starts getting stronger
- Probability of the stock going lower increases if it takes out 112-108 levels
- Target zone for the pattern 94 / 86
- View gets invalidated if stock...
Observations from chart:
- the stock has given a breakout & has come out of ascending triangle
- consolidation phase within triangle is of nearly 10 months in 1st chart
- this is generally a low volume stock with occasional spikes in volume
- MFI & RSI are currently in overbought zone
-- in the...