TATAMOTORS 1-day chart is forming a Head & Shoulders pattern.
One can BUY in the range of 340-342.
The target is around 357-362 (adding 20-25 difference between shoulders and head to the neckline level of 337 giving 357-362).
Ideally, there can be three possible stop-losses:
(Assuming Buy level of 340 & Target level of 360)
1. At the lowest level of right shoulder - 306 giving a 1.7:1 risk-reward ratio.
2. At the lowest level of left shoulder - 301 giving a 2:1 risk-reward ratio.
3. At the lowest level of head - 280 giving a 3:1 risk-reward ratio.
But, You can keep a stop-loss at the monthly pivot level also to improve your risk-reward ratio.
This is a very risky trade. Adopt according to your risk appetite. Keep the stop losses trailing if the trade goes in our direction.
BUY - 340-342
TARGET - 357-362
SL - 306/301/280
Disclaimer - This is just for educational purposes. No recommendation is given. Trade at your own risk & will.
Any sort of feedback is wholeheartedly welcomed.
One can BUY in the range of 340-342.
The target is around 357-362 (adding 20-25 difference between shoulders and head to the neckline level of 337 giving 357-362).
Ideally, there can be three possible stop-losses:
(Assuming Buy level of 340 & Target level of 360)
1. At the lowest level of right shoulder - 306 giving a 1.7:1 risk-reward ratio.
2. At the lowest level of left shoulder - 301 giving a 2:1 risk-reward ratio.
3. At the lowest level of head - 280 giving a 3:1 risk-reward ratio.
But, You can keep a stop-loss at the monthly pivot level also to improve your risk-reward ratio.
This is a very risky trade. Adopt according to your risk appetite. Keep the stop losses trailing if the trade goes in our direction.
BUY - 340-342
TARGET - 357-362
SL - 306/301/280
Disclaimer - This is just for educational purposes. No recommendation is given. Trade at your own risk & will.
Any sort of feedback is wholeheartedly welcomed.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.