After a brief meaningless rally last week, TATAMOTORS failed to cross 200 level for the third time
A bearish divergence with breaking down of two important levels suggest further fall after a minor pullback as shown
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NSE: Tata Motors Sell below 160
Chart Pattern looks weak after sell off on results
Sell below 160 with stop loss 172 for a target around 130
Use stop loss.
technically tata motors formed an inverted head and shoulder patter. If it's breaks above the price level 188 we may go for a short and long time buy or before entering we have to wait for results announcements.
Expecting a fall to 120-130 zone. This zone will act as a barrier band. Expect reversal from 120-130 levels. If it breaks this band of 120-130, we can see 100 levels. But there is a less chance to break 120-130.
All in the chart.
If you count waves, look for impulse downside, no impulse downside no shorting.
Look for triangle in 4th wave as well, keep patience, if it forms a triangle we may see 190/193 levels, which will give more better R:R.
Thank you.
TATA motors has given me the most wonderful and joyful years of my life between 2008 and 2015
However the present situation looks shaky & one more dip below 150 is expected
But i guess if we reach 130 , it is a great buying opportunity
so they say
"“We are all in the gutter, but some of us are looking at the stars.”
Tatamotors is nearing zone of resistances of 180,186 and 200. It fell a lot and the fundamental seems to have improved a bit with improved sales. If it closes above 180, buy with SL 169 with open target (Tgt 1 : 194, Tgt 2: above 200)
MOMENTUM/SWING TRADE IN TATA MOTORS
JAN FUT
STOCK CONSTANTLY TAKING SUPPORT ON 20-DMA
CROSSING 50-DMA TODAY(WAIT AND WATCH)
RISING 20-DMA+RISING 50-DMA WITH AN OPEN INTEREST BUILT-UP
BUY@178.5 (IF CLOSING ABOVE)
STOP@174.5
TARGET@184.5
LOT:2000
QTY:1
