Long Opportunity -
Tata Motors has formed a *W* pattern on the trend line, and the neckline of this pattern is completed on a level of Rs. 480.95 which is the resistance according to the level of 0.618 of the fib retracement tool. If this stock of any candle closes above this level, then we can expect a bullish move. The CCI is near 0 levels, we have to wait till...
Tata Motors Ltd is India`s largest automobile company. They are the leader in commercial vehicles in each segment, and among the top three in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments.
TARGET: 566 and Above.
Reason: Breakout neckline of w pattern now we get good rally in Tata motors. for long-term...
EXPLANATION : This is a 4 hour time frame chart of TATAMOTORS . The stock has been in a downtrend for days and has formed an Inverted head & shoulders pattern // Swing pattern . The stock gave a strong breakout and broke its supply zone with volumes and has retest the same , I am bullish on TATAMOTORS . I am expecting a target of more then 10 % here .
Price is moving under the consolidation area for 225 days . It has finalized sub-wave (C) of wave ((4)). If price breaks sub-wave 4 of wave (C) of wave ((4)), it is the beginning signal of Wave ((5)).
We can get the following swing trade targets: 340 - 362 - 415
For Safe trader , TATAMOTORS looks bullish above 318 levels.
Once it break 318 and starts to trade above it, go long in TATAMOTORS with positional trade. Targets are marked with RED LINES on chart.
Prefer to short below 305 level. But can't see any opportunity in coming days to short TATAMOTORS.
Comment your suggestion or doubts.
TATA MOTORS has touched the bottom of 1.618 and currently near monthly trend line resistance.
this time is can break, once the trend line is broken the re-test will happen and then reach upside to 0.05 and 0.168