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TATA MOTORS has sustained below the neckline, next target 150.35TATA MOTORS, creating head and shoulder pattern has sustained below the neckline and the 20 period EMA below the 90 EMA also supports the bearish move. The chances of the share to touch the 150.35 level is very likely. If we get a daily closing below this level, next achievable target is the low at 130.
Tata Motors: Can it find its way back to highway...!!!Tata Motors
CMP 170.65
Last year in Sept 2017 when the stock was around 415 levels, we had highlighted that charts were indicating difficult times ahead for Tata Motors
And
- at current levels and on further dips the stock looks good from long term perspective (and I mean really long.... Can be looked for objectives like retirement planning, child education and so on...)
- it may not be easy road ahead.... (Challenges are Breexit impact on JLR, move towards electric cars, etc)
- but on the potentials and opportunities, with the launch of Harrier early next year we see TOT - transfer of technology (use of Land rover platform), potential improvement in brand image perception, development and work in progress in electric vehicle technology, and the fact that there is less than 50 cars per 1000 person in India reflects tremendous growth potential
- as any economy grows demand for premium and luxury cars come in to focus and with JLR and and potential TOT in future Tata Motors cars, we feel the company is having the right ingredients and product mix to make the most of it...
- coming back to charts in the short term 158-166 needs to be protected
- close above 175.6 may indicate Tata Motors to shift from reverse gear and move forward
- given the points above we see this stock as a buy on every dips
Take care and happy investing!!!
TATA POWER FOR 465+Tata Power Company Limited is an Indian electric utility and electricity generation company based in Mumbai, India. It proudly stands as part of the illustrious Tata Group. Tata Power boasts an impressive installed electricity generation capacity of 14,707 megawatts (MW).
In past few weeks stock has consolidated and now I m expecting a bullish rally in this stock. NSE:TATAPOWER
CMP : 446
SL : 424
T1: 464
T2 : 480 :
T3 : 495
Note : This is not stock recommendation this is only for educational purpose.