TATAMOTORS trade ideas
2E Signal Generator : Tata Motor AnalysisDear Traders,
We have developed highly customized and advanced indicator that can generate buy signal to take positions which can return more than 2% of profit over 3-5 days on an average,
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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.
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!
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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.