In recent years TATA Motors has given a negative return and it is one of the most underperforming stock in the NIFTY.
But after having a long time frame view and recent parallel channel breakout with an immense amount of volume (in Billions) that has never seen before, the stock seems too promising.
So, there is a very good buying opportunity in long and as well...
Keep an eye on TVS Motor it was in parallel range since start of September. Expecting a breakout after a possible retracement. Buying level will be above 471.00.
Reason to buy:
1) Moving up with good volume since 3 days. If this momentum continues their will be a breakout soon. Bollinger bands showing good volume as well.
2) Above 200 MA line shows uptrend.
Dip towards 1070-50 long opportunity for 1200 SL 1000 on daily closing basis.
Disclaimer: Calculated and plotted values may vary and change. This investment/trade may not be suitable for all investors. Do your own study or ask your financial advisors before investing.