TATA MOTORS Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock facing strong resistance at current levels, indicating weakness as long as trades below 525. (Updated on 23rd August 2014, Saturday).

TATA MOTORS

• As per previous report published on TATA MOTORS stock has shown sharp up move after breaking its top @ 488 and made a high around 522 in just 2 trading days. (Click here to see previous report published on TATA MOTORS).
• Now current chart indicates that stock is facing strong 161.8% fibonacci retracement resistance at current levels, so as long as Tata Motors trades below it will be favored by bears, but once stock closes above 525 and holds above then further strength in expecting, as shown in chart no1.
• Intraday close watch once stock starts trading above 525, if holds above 525 during market hours then intraday bulls action is expecting.
• Suggested Reading - CESC closed above its golden ratio resistance, stock to favor bulls.
• As per graph no 2 , candlestick studies indicates that stock is showing weakness at higher levels and stock has formed bearish patter so as long as trades below bears will dominate , but once closes above 525 then bulls may get active once again.
• If stock falls from current levels then will find strong support around 502, 487, 476 and 465 as per fibonacci retracement, shown in graph no 3. Close Watch.
• Click here to see all the free trading reports (tips) published by us on TATA MOTORS.
• Intraday tips for tomorrow trading.