Tatamotors-breakout
#TATA MOTORS #Tata motors (CMP-403)
SETUP:-
1 . Tata motor forming a descending triangle pattern
2 . There are multiple trendline resistance from upside
3 . In weekly TF crossover between 20 EMA and 50 EMA
4 . If it break 370 level then it may fall📉
5 . If stock possible to sustain above 445 level then it may go upside 📈
Breakout in Tata MotorsPrice breaks out the consolidation zone.If market trend continues stock will perform.
Short term Target 462.70/532 SL below trend line.
Market always risky it derives under many factor. So, don't take any trade or investment decision based on recommendations. Do your own analysis before enter into the trade.
Tata Motors (tatamotors) Falling Wedge Breakout in 2021?Tata Motors (tatamotors) formed a falling wedge pattern breakout on a bigger timeframe (monthly/weekly) candlestick chart. The level to watch is 160 + or 120 -. Any side breakout and stay above/below this shared level, it will move one side.
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Tata Motors - Expecting a retestPrice after the bull run was in an accumulation phase for some time and now it breaks the level with a strong green candle for the week and closes above the resistance level, one can expect a retest of the breakout level.
If some one misses the breakout level then add a small quantity at the current price and if price nears the breakout level then add the rest, dont try to add big lots after the break out immediately.
Is Tata Motors attempting a Breakout?Looks like Tata Motors is heading up. The chart suggests that it is attempting a Breakout near 120.
Points to ponder:
1. The candles of last 4 days have a small range and small bodies which may suggest a breakout. But not necessarily.
2. The volumes are decently mediocre. Nothing extravagant in that.
3. The retracement candles are red and bigger than their counterpart green ones which indicate lack of momentum
4. And last but not the least, MFI is at 77, approaching a breach at 80.
The Opening of the week is important. The stock retains it Control Price at 103 on Volume and Market Profile. A failed breakout at 120 may see a reversal to the mean.
Happy Trading!
Tata Motors - Readying for a long driveWith multiple headwinds, the stock had corrected big time and is now on the path of recovery aided in part by the easing of the global pandemic led economic lockdown. While it was tempting to have entered the stock at levels closer to 70, we needed to be certain of the recovery path. In the past month, the stock had attempted to retrace but failed at the 23.6% hurdle. Now, the stock finally closed above that level with a strong green candle after a series of green candles. MACD has moved into positive territory, volume has gone up adding to conviction, Ichimoku bullish crossover has happened ... the list is long...Good to go long with Tgt 1 - 116,TGT 2 - 122 and a TGT 3 of 132. SL 94.