Tata motors has shown a superb bullish rally but this seems a formation of shooting star
stay cautious in bullish trade study and think and then trade carefully
Closing Range - 19547/19758
Extended range - 19469/19836
Extremely low volumes with an indecision candle again calls for a caution. A confirmation candle in the next session is important to be studied to confirm an up/down trend. Nifty might come down to fill the gap at 19575 before resuming upward journey or directly move into the uptrending channel. The latter...
Multiple time frames there are bullish pattern breakout,
Daily : Box Breakout
Weekly : Flag & Pole Breakout - 870-880 levels
Monthly : Inverted Head and Shoulder breakout - 1000-1050 levels
A must have stock in your portfolio.
In daily time frame, price is at trend line resistance now. 417 – 420 is strong resistance. Price have to sustain it to move towards 424,430 and 435. Bearish below 413 – 416 for the targets 409, 405 and 401.
Note : Understanding trend strength is important to trade in this volatile market. Place stop order once you take an entry.
Tata Motors is stuck in a slitly downword SIDEWAYS structure BETWEEN 350 TO 490
If it breaks the level of 490 then we Can Take a Long Trade above 490 To see the Target of 530 & above NSE:TATAMOTORS
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