TATAMOTORS back in the channel. RSI taking support and in uptrend.
Price took good support from demand zone (320 levels) and trend changed to bullish.
Needs good volume to break and sustain above 350 level which will be 3-year breakout.
TF: 15 min
Pattern: Cup and Handle
Height of Cup: 90 points (considering cup base at 2960)
Height of Handle: 30 points (ideally should be between 35-50% of cup height).
Target on breakout: 90 points from CMP (equal to height of cup)
Waiting for breakout from CMP (3050) which is also a long time supply zone.
+ve RSI divergence observed which indicates bias towards...