NSE:TATAMOTORS
Observations:
1) On Daily time frame, It broke 21DMA and closed above it and also closed above 310 level. Also daily volume was just above 21 day average volume.
Please refer below chart : Daily time frame.
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Trade Setup for Date 23-09-2021:
1) Don't Jump in...
NSE:TATAMOTORS
TATAMOTORS has been in very much bearish trend since last few days. And in this month it has fallen nearly 13%.
I am preparing this on 1hour timeframe for clear understanding. And this for positional trader.
On 23-07-2021, it has broken that orange trendline and closed near 295 level. This is very critical level and 295.50 is Fibonacci level...
NSE:TATAMOTORS
short only if find reversal at current PRZ level.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
RR is not favorable, only for aggresive traders.
Sell if sustains below 240 for the target of 228, 216, and 205 until 254 is saved on the upside.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
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.
