Tata Motors - Inverted H&S ?

30 Des 2020

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).

4 Jan 2021

Catatan

Price closed above 188.80. PA - Hammer with good volume. We have to see if the price retests 188.80 in the next couple of days. Beware - 197 to 201 is a STRONG Resistance ZONE. Consolidation is expected between now and 200.

6 Jan 2021

Catatan

The price got rejected around 197 (strong resistance) and formed a spinning top. Not a satisfying PA. Have to wait until the price takes out 197 comfortably.