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Tata Motors Multiyear Breakout & RetestTata Motors, one of the leading auto manufacturer of passenger and commercial vehicles in India and market leader in EV's has just tested the multiyear breakout of 600 levels. Such multiyear breakout often result in quick appreciation in short duration of time. Technically very bullish signal.
Tata motors trendline breakout Tata Motors stock price has been in a downtrend since the beginning of 2023. However, on August 11, 2023, the stock price broke out of the downtrend trendline on the 1-day timeframe. This is a bullish signal and could indicate that the stock is ready to start a trend reversal.
Tata motors case studyTata motors spot cmp 590
weekly time frame
Wolf wave study
Bearish wolf wave formation
Counter is in overbouht zone as per structure, trading above the resistance line.
Previous life time high levels at 600,
Bearish divergence on RSI, with respect to price.
counter is facing price rejection around 600 levels, which act as resistance as per previous life high levels.
Bullish only above 610 on weekly closing basis,
Till counter is below this levels , possibility of 50-70 point down side is higher.
Further view can be taken once counter gives weekly close below 535 levels.
Bulls time to cautious, bears at door step.
Tata Motors -BuyTata Motors gave a multifold return in the 2020 -2022 period and now for a year it had been in a ranged phase. The stock is a perfect example of how an ideal correction should be in an uptrend. During this correction the price had formed a strong support around the price Level of 370 which happens to be 0.618 Fibonacci retracement level which had been tested multiple times. Recently it has broken it’s all-time high confirming a higher high and a lower low formation.
One can buy the stock when it closes above 600 with stop loss at 585 as it has given a breakout from the range and has completed the formation of Flag which is one the continuation patterns with volume confirming the price action and volatility increasing, the stock can rally up to 620 and 640 which is also the 1.272 Fibonacci ratio. The bullish signals can be seen on daily and weekly charts and hence ramification is likely to be large. Further the stock is having few shortfalls that suggests a strong momentum
Conclusion: The setup looks poised for a good move in the up-coming weeks. A gradual move towards the level of 620/640 is possible, with an excellent risk to reward ratio.
TATA MOTORS DVR - Cup with handleTata Motors DVR - Cup with Handle
6 Years Cup with Handle
Cup Neck Line - 287.00 (01/05/17)
Cmp - 309.95
Entry - 298.50 (4% from Neck line)
Stop Loss - 281.25 (2% from Neck line)
Target 1 - 328.35
Target 2 - 361.20
Target 3 - 397.30
Tata motors dvr sell @265Tata motors dv can be sold @265 , as it it at very good resistance and rsi is also at the top . target after tht would be around 250 , thus can give easily profit of around RS 15/ share
Tata Motors DVR BreakoutTata Motors DVR consolidated for a very long time and even tested 100 Weekly EMA. It gave a breakout recently and one can keep a stop loss 235 and go long for new all time high.
Tata motors upside rally...Tata motors has given a breakout of the trendline and if it sustains above 452 then we can look targets of 540.
Fib levels on the chart. Most likely wave 3 in making.
Stay safe and trade safe.
Note: The above is strictly my view and not a trade recommendation. Consult your financial advisor before making any trade.
TATA Motors QML Pattern#Tata Motors
QML Pattern.
A QML is a reversal pattern that is created after a significant move in the market. Price will retrace back to fill the liquidity void. our main focus is a QML(Quasimodo Pattern) with FTR and Liquidity void for high-probability trading.
Wait and Buy @ 390
T1: 443
T2: 460
SL: 380