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TATA MOTORS LTD

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TATAMOTORS trade ideas

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.
NSE:TATAMOTORSLong
by Sunmithra_Katla
TATA MOTORS: BULLS MAY SPEED UP TO 200TATA MOTORS HAS FORMED BULLISH CHART PATTERNS ON DAILY AND H-1 TIMEFRAME, THERE ARE MULTIPLE CONFIRMATIONS WHICH SUGGESTS STOCK MAY RALLY UP TO INR 200 MARK IN MEDIUM TERM (1 MONTH). DAILY CHART DAILY CHART HAS FORMED ASCENDING TRIANGLE ON DAILY CHART, WHICH HAS GOT CLEAR BREAKOUT TO THE UP SIDE, SUGGESTS IT MAY RALLY FURTHER TO THE NORTH. HOURLY CHART LOWER TIME FRAME (60 MINUTES) HAS FORMED BULLISH FLAG PATTERN, WHICH ALSO GOT BREAKOUT TO THE UP SIDE, ALSO ADDS CONFIRMATION ON BULLISH BIAS ON STOCK. TARGET CONFIRMATIONS 1) INR 200 IS PROJECTED TARGET AS PER BULLISH FLAG BREAKOUT PATTERN, WHICH IS ALSO PSYCHOLOGICAL ROUND FIGURE NUMBER. 2) 1.618 EXTENSION OF FLAG POLL ALSO SUGGESTS TARGET PROJECTION AROUND 200 MARK. 3) DAILY CHART HAS ALSO GOT SUPPORT & RESISTANCE AROUND 200 MARK, SO THAT MAY ACT AS MAGNET THIS TIME ALSO. SO, WAIT FOR STOCK TO RETEST HOURLY FLAG RESISTANCE AREA AROUND 172-176 FOR ENTRY REASON. ENTRY: INR 172-176 STOP LOSS: INR 158.75 TARGET: INR 199
NSE:TATAMOTORSLong
by AMITDANGI
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