Tatamotors, 15 min chart
Can go long with stoploss of close below 326
for targets of 333.65, 336.80, & 339.25
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
Tatamotors is forming a bullish pennant with last minute buy with three pyramid volume candles and MACD signals buy in intraday and positional. The stock had taken good support on 50 ema throughout the after noon session and closed above the 50ema. Current position is right below the VWAP which shows potential upper break out and hitting of 344-352 levels...
Buy on Dips / CMP is 304
The breakout is clear and the uptrend since 7th Jan 21 continues.
I say buy on dips because this sudden and sharp uptrend might lead to a correction upto 250 levels.
The risk level is high but so is the reward. Checking the daily charts (resistance not available on hourly charts), the first resistance is at 360 levels followed by 410...
Tata Motors DVR looks set for gains if it closes above Rs.115 with targets of Rs.185 and Rs.208 in sight. The positional call on this one will become active only above Rs.115 and the targets might come in a few months to a year.
The price is currently bound by an ascending channel . Its displaying a very good price action . Very high probability of achieving Target 1 , as it has respected the channel support trend line just above powerful Exponential Moving Average. Confirm the trend first before initiating the trade . I am not hoping for breakout before quarterly results. Trade Wisely...
Tata Motor made the Elliott wave on the 4h time frame. The Elliott wave pattern started on the 24th of September 2020. And made the 4 waves, and the fifth wave is remaining. It has to cross 190 - 200 to complete the 5th wave.
I hope you can now see how Tatamotors represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be...
1) Price should sustain at least 30 mins to 1Hr above the last trading day high to reach to the 1st target.
2) If the price takes out T1 in 1 Hr & 4 Hr time frame in coming trading days then T2 is the target.
3) Global markets should be positive so that our market can also move up.
4) Several factors matter with multi-confirmation to enter into a trade. So, do...