Last week, Tata Motors violated the 20 day EMA. Today, after breaching the 50 day EMA, the stock price rebounded and closed the day above it.
As per the chart structure, 451 at 50 day EMA and 434 at Fibonacci level can act as a good support and rebound zone.
Support at around 100 day EMA and Fibonacci retracement level around 402 if it breaks 434...
TATA MOTORS have support level at 428 and a similarity i find in the monthly chart is on Nov 2016 the stock went down and by December 2016 it had taken the support at 428 level and made high of 486 level. So is it a repeatation for December 2021? NEED TO WATCH OUT. However one can see a fresh buying opportunity only after full correction completed.
Tata Motors as per daily chart analysis today it had formed an inside bar candle and the market on the expiry day did well and the momentum should continue tomorrow. The stock is expected to move up.And once it breaks 525 level expected target 550-600.
TATAMOTORS has shown a great retracement from its recent highs of 530+. In fibonacci levels, we can clearly see how the stock took support at78.6% levels. Its currently hovering around and has not broken down this level. A long call can be taken here, for targets up to 510. ALSO THIS LONG VIEW IS SUPPORTED BY THE PARALLEL CHANNEL THAT THE STOCK HAS FORMED ON DAILY...
Tata Motors as per the chart patten analysis is in brief consolidation and once the resistance 525 level is broken then target 550 is achievable. So far the stock had tried to break this level twice and there might be a third attempt and if it sustains above 525 level then its a consolidation break out or it might retrace and in the 4th attempt it can break. More...
NSE:TATAMOTORS
Observations:
1) On 1day time frame, yesterday it closed below 21DMA and today it faces resistance from 21DMA.
21DMA is now immediate resistance zone.
21DMA is placed at 498.50 level.
So level range 498-500 will work as resistance.
Please refer below chart : 1 day Time Frame.
IF it failed to sustain above this then we can see a down...
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
Check Bull vs Bear power - (chart)
Since green candle on 13th oct , there have been total of 15 trading sessions but no candle is able to wipe gains.
This shows there is very less supply related to stock
Target - Till Daily RSI violates support of 60 (Will ride with trend)
Stoploss - Daily RSI breaks support of 60 or bottom of 13th october candle(approx -5%)
condition 1:
if its in the correction wave 4 (pattern ABC completed) then its most likely to go up, having invalidation level marked in chart!
condition 2:
and if it has completed its impulsive cycle, then its most likely to go down till 38% of wave 0 to 3
Choice is all yours. All the best!
Tata Motors after the Monthly Break out now have two strong resistance at 510 and 525 level. once these two are broken then the target 550 is achievable.
![TATAMOTORS: Simple Trade Setup | TATAMOTOR |24-11-2021 [ INTRADAY]](https://s3.tradingview.com/q/qYlNAkQJ_mid.png "Simple Trade Setup | TATAMOTOR |24-11-2021 [ INTRADAY]")
