We could observe a Positive divergence through RSI and MACD in Tata Motors. One can clearly find a bullish bias especially with the momentum of current up move.
170 is a key area from price action action perspective as the stock has reacted to this level historically. Fib 23% coinciding at that level makes it even more significant. Hence, even though we hold a...
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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
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)
TATAMOTORS Has been Higher Lows on Indicators signalling a change in Trend and Strengthening at these levels before it bounces back. Enter at 262, S.L 245, Target 302, First target 271 if that is crossed then most likely will touch 302.