The stock price is currently trading at a resistance level. If the stock price breaches this level supported with Volumes and indicators , a long position is viewed. Do your own due diligence before going long. The view is for positional traders.
Tata Motors which has yesterday crossed support level of 175.50 is likely to fall today and likely to reach support level of Rs166.05. Stock is expected to complete semicircle pattern on charts and stock is currently in consolidation phase. Target 166.05 Stoploss 175
Tata Motors has huge probability of falling today. Tschnically Tata Motors is creatingr rising wedge and reached the resistance level. Today if it brokes the resistance level then the stock will increase in the coming days. But it is most unlikely things going to happen, as confirmed by technical indicator ADX. ADX is in decling phase which means stock trend is...
Tata Motors is at the support levels of longterm trend channel.
Add here and more on dips for the long term target of 600.
Only for patient and long term players
Before the results kick in, the trade looks very lucrative from a risk rewards perspective. Its bang on support and if 420 holds, the scrip could witness a bounce in the near term to around 450 and then to 485. Stop loss of 420 (Daily) would negate the trade and infact it will stop and reverse trade !!!
Sellers (Bears) have been really struggling harder for pushing the prices down since many days but couldn't move down. Sellers are getting exhausted and look for long positions. Buyers may target 550 level.
BUY @ 468
TAKE PROFIT = 550
STOP LOSS = 430
Overall trend is down. If goes down, then it will support near 430 area. Since there was a huge volume when it reached the support of 430 last time, this time its gonna be difficult. SHORT if the next candle is red with huge volume.
for educational purpose tatamotors is trying to close above 464 (fib .236) but failed if it closes above then 481 (fib .382) will be next target. but below 457.5 go short with sl of 465 with target 448.
Basic Understanding and Rules for Bingner : -
- Never put trade against the major direction.
- Major direction conformed by first Impulse or some Moving average.
- Don't Trade in Correction Zone.
- Try to figure out which type of correction happen and put tradeline.
- Try to Entry in second Impulse, After breakout Happen.
- Risk to Reward Ratio 1 : 3
Learning gartley pattern
'B" is at least 61.8% retracement of XA should not touch or close above 78.6%
"C" is at least 61.8% retracement of AB leg should not tuch or close above 78.6
"D" the entry point is at 127.2% extension of AB, which in this case comes out to be near 495.
I doubt it will come there .
Will monitor this as long as point C holds true
Tata Motors Ltd. engages in the manufacture of motor vehicles. It operates through the Automotive and Other Operations segments. The Automotive segment operations include all activities relating to the development, design, manufacture, assembly and sale of vehicles including vehicle financing, as well as sale of related parts and accessories. The Other Operations segment includes information technology services, and machine tools and factory automation solutions. The company was founded on September 1, 1945 and is headquartered in Mumbai, India.
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TATAMOTORS
