TATA MOTORS LTD. - AT 100EMA

8 Jul 2020

TATA MOTORS LTD. #TATAMOTOR

- BROKE A MAJOR SUPPORT AT 108.50
- GAVE A BREAKOUT FROM DOWNWARD TRENDING CHANNEL
- TOOK SUPPORT FROM 100EMA AND HISTORICAL TRENDLINE.

INDICATORS:
RSI NEAR 25-LEVEL AND IS BEARISH
TT2 TREND TOOL IS BEARISH IN 30MINS TF
CVD IS NEUTRAL.

CONCLUSION:
1. FOR FURTHER DOWN MOVE, PRICES NEED TO BREAK THE TRENDLINE AND THE LOW OF 104.35.
SELL BELOW 104.35
SL 106.25 OR TSL 108.50
TGTS 102.5/100.25

2. BUY ABOVE 108.50
SL 100EMA
TGTS 110.80/112.5/114.5

KEEP AN EYE!!

NOTE - BREAKOUT HAS TO HAPPEN WITH MORE THAN AVERAGE VOLUME AND THE FOLLOWUP CANDLE MUST SHOW CONVICTION!!

***in case of GAP opening, the given levels become invalid.

***this is my personal view. Please take advice from your financial advisor before investing.