TATA Motors Limited ( TATAMTRDVR) Bullish On weekly chart.NSE:TATAMTRDVR
TATA Motors Limited ( TATAMTRDVR) showing breakout to the level of 83 on weekly chart and looks good for those who are looking short to long term investment.
Right now it has a good support near 50.
TATAMOTORS trade ideas
Is the broad-term trend of Tata Motors finally turning up?NSE:TATAMOTORS has been underperforming consistently since 2016 (around 4.5 years). It's been in a textbook downtrend so far, making lower highs on the Weekly chart.
But with the strong moves December onwards, the stock has cleared a very important hurdle and has broken market structure. This may potentially mean that it could finally be a favourable as a bullish positional pick. A 200 retest cannot be ruled out and the trade basis should remain intact as long as this is maintained.
Also, the stock is trading above AVWAP for the first time in years.
On the fundamental front, 11th Jan's movement in particular might be due to strong JLR sales. They are also improving their product portfolio a lot with several new launches planned. The Nexon EV appears promising. Things seem to be looking good!
Tatamotors PreparingTatamotors ready to vertical move. It can trigger any time. A big gap up possible in Monday. Buy simple!
ShortMight see shorting opportunity at 212 resistance level. follow price action and consider for short
Tatamotors target 350Tata motors is breaking long term resistance of 196, daily close above 200 will lead to long term target of 350, long term accumulation is required. Add incrementally for every 30rs raise, 200, 230, 260,290,320,350 levels
Tata Motors - Inverted H&S ?Tata Motors 188.80 strong resistance. It appears to form an Inverted Head and Shoulders. TM target for the January contract b/w 197 - 201 (197.45 - Strong resistance from the past. Could be seen on a monthly chart).
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short term tradetata motors lenier regression channel shows a clear downtrend. however, due to market correction the stock has touched lower band of the channel.
expecting a rise till 175 levels only post which all positions need to be squared off. fresh longs can be initiated only after pprice crosses the upper band.
TATA MOTORS - Travelling in ChannelsAfter it broke the downward channel , it took support at the downward channel border and is now travelling in an upward channel.
May face some resistances upto 202.
Tata motors going to longWait moving averages cross over & next correction resolution, then make a position for long short term purpose
ELLOIT WAVE - TATAMOTORS WEEKLY CHART ELLOIT WAVE - TATAMOTORS WEEKLY
As seen on the chart I have drawn from the low of March .
I feel we are on wave 3 cause from 24th August till 2nd of November it was sideways indicating wave 2.
You could ask why not the previous sideways movement from 1st of June till 3rd of August as wave 2 , because it on retraced on 1 candle in the weekly time frame.
Further more volume is also decreasing. Therefore I feel we are on wave 3 for a target of 270.15 as 1.618
I would appreciate your feedback on my analysis of this
LONG OPPORTUNITY IN TATA MOTORSREASONS-
1) WEEKLY & DAILY TREND IS UP.
2) MAKING HIGHER HIGHS & HIGHER LOWS ON DAILY.
3) TRADING ABOVE THE ICHIMOKU CLOUD ON THE WEEKLY AS WELL AS ON THE DAILY.
4) PULLBACK/DIP RETESTED ON HISTORIC KEY LEVEL ACTING AS SUPPORT THIS TIME.
5) SOME NOOBS MIGHT THINK THAT STOCK GONNA CRASH AND WE CAN BENEFIT FROM THEIR SHORT COVERING.
PARTIAL PROFITS MUST BE BOOKED AS THE TRADE GOES IN THE FAVOURABLE DIRECTION.
KINDLY TRADE AT YOUR OWN RISK.
GOOD LUCK ^^
TATAMOTORS - SHORTCNXAUTO remains heavy and within that TATA Motors printing the medium term cycle peak around the 180-190 area. Now ideally if we assume NIFTY capped 13780; AUTO would participate in the downside momentum. Short with stop 181 (one can add any rallies). First take profit is 165 and then 157 (out side chance of 148).
Tata Motors - Bullish interms of the patternTata Motors is following a good pattern as you can see from the charts(Pattern from the march lows) and it is good to go for the long term.
The support and resistance with a long term and short term view are shown in the chart. It is bullish until and unless it breaks the major supports-170 and then 158 until then it is good to accumulate. The first major resistance or the target is at 195.45.
Disclaimer: Please check with your analysis before investment- It is for educational purpose only and solely based on my view.
