Tata Motors standing over a support zonesThe previous resistance of 176 price zone on Tata Motors charts will act as a support and 200EMA is also lying on the same level. A good positional buy trade entry can be made at the CMP with a low risk against a good rewards. ( RR ratio of 2.5)
(Note:- This is my personal views. Please consult with your financial advisor before taking trade.)
TATAMOTORS trade ideas
Tata Motors - Intraday Trade SetupTata Motors CMP - 183.60
Looking bearish in higher time frame. One can go for Intraday Trade setup with the following entry, exit & targets
Sell at or Below 182 / Stop Loss - 186
Target 1 - 180
Target 2 - 178
Target 3 - 175
Disclaimer: This is my view and for educational purpose only.
TATA MOTORS 4HRDaily Crab & 4HR Crab forming strong potential reversal zone at same level
Vertical dotted line is ULTRA HIGH VOLUME
ULTRA HIGH VOLUME for going SHORT we need LOW VOLUMES in the area of ULTRA HIGH VOLUME BAR
SET UP BECOMES VALID ONLY when RSI is below 70 and IF Price breaks ULTRA HIGH VOLUME Candle LOW with LOW VOLUMES & with NO DEMAND l.e place for short
POTENTIAL SELL
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