TATA MOTORS
- As per previous post published on TATA MOTORS, stock failed to break its resistance of 488 and witnessed selling after that & stock touched a low of 430. (Click here to see previous report on TATA MOTORS).
- Now daily chart indicates that TATA Motors has made a gap up open in daily chart, this indicates as long as stock trades above its gap up it will be favored by bulls and stock can move up. Chart also indicates stock gap up open is too supported by good volumes this too will favor bulls , as shown in graph no 1.
- Daily chart also indicates stock is moving up from 100 days moving average support zone, as long as stock holds above it will favor bulls. Chart also indicates that stock will test its previous top of 488, If stock closes and stays above 488 then further up trend is expecting in for next 1-2 trading days.
- Intraday close watch when stock starts trading above 488, if stays above in day trading then intraday bulls action is expecting.
- Suggested Reading - AUROBINDO PHARMA is holding above golden ratio, stock to favor bulls.
- As per graph no 3, if stock closes above 488 and stays above then bulls will get active and stock will find next strong resistance around 525 its trend line and 161.8% fibonacci retracement. Close Watch.
- Click here to see all the free trading reports (tips) published by us on TATA MOTORS.
- Free intraday tips for tomorrow.
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