Tatamotors
Tata Motors - Mid Term (Now down then UP)Hi Friends,
Tata Motors is in up move from a couple of weeks.
The move is expected to continue after a brief retracement. Retracement levels are marked with Fib retracement.
A zone around 452 can be a potential reversal zone.
2 daily closings below 61.8% fib marking will confirm the trend change.
Tata Motors- hidden bullish divergenceA hidden bullish divergence is a setup where the indicator forms progressively lower lows at the same time that the price is forming higher lows.
Here in tata motors daily chart same has happened.
- price has been in consolidation or has performed a pullback from an uptrend,, indicates that price still has some upside momentum and that any pullback is more likely the outcome of profit taking from previous buyers as opposed to strong selling.
-Here, we can see that the RSI formed lower lows at the same time the price formed higher lows. The period of divergence occurred at the time that price was pulling back in a retracement move.
Note: This chart is just for educational purpose and not for any trading purpose.
TATA MOTORS Weekly ChartAccording to the weekly chart analysis, TATAMOTORS has been experiencing a prolonged downtrend. However, there is a possibility of a significant upward movement if the stock breaks out of this downward trend.
TATAMOTORS is the largest player in the electric vehicle market in India, making it an attractive investment opportunity. As a result, we are monitoring the stock closely and waiting for a breakout of the downtrend to take advantage of the potential profits that could be made.
TATA MOTORS Weekly Time Frame Analysis Current Formation: Top Declining and flat bottom formation
Since TM Trading above the 200EMA and major long term trend line..
can consider it as Bull market phase
Normally this kind of formation will breakout in upside..(In case of Bull market scenario).
major
support - 376
Resistance - 461
reverse possible if it breaks these level
Huge momentum can be excepted after this break out
MACD in positive territory..
slight weakness in histogram
intradayBoth side potential.
consolidating in small range
avoid first 15min breakout
wait for 15 min candle closing
targets are marked
if the breakout comes after 10:00 am then the probability of winning will be more.
follow risk management
do your own analysis
do workout
do meditation
start reading books
Tata MotorsIt is an interesting set up. Price is in channel and break above 470 can give 100 rupee upside. Many auto stocks are also showing the strength and hence it may also works. M&M can be good trade but it has run up fast and currently at all time high. Any retracement in M&M is also good buy. But I am not comfortable with that stocks dont know why but not suiting to me anyhow. So I am focusing on Tata Motors. It is more volatile so keep SL in place as your risk management and position size.
Bearish HaramiA bearish harami is a two bar Japanese candlestick pattern that suggests prices may soon reverse to the downside. The pattern consists of a long white candle followed by a small black candle. The opening and closing prices of the second candle must be contained within the body of the first candle. An uptrend precedes the formation of a bearish harami.
Script = TATA MOTORS
Time Frame = 15 min
Tata Motor Trend AnalysisTata Motor has shown strength in todays weak market. This was todays go to stock.
Tata Motor has shown recovery from 2 support lines and looks strong. I see two targets coming in short term.
The trading view technical indicator is also showing buy signal on daily, weekly and monthly that is very good.
Today market has taken support from 200 EMA and is a good time to invest for a reversal.
Disclosure : I am not SEBI registered. The information provided here is for education purposes only. I will not be responsible for any of your profit/loss with this channel suggestions. Consult your financial advisor before taking any decisions. Tweets neither advice nor endorsement.