Date: 11-Aug-2024
LTP: Rs. 1068.10 (on 9-Aug-2024)
Next Resistances: (1) Rs. 1,179 --> (2) Rs. 1,284
SL: Rs. 950 on daily close basis
Technical View:
•
TATAMOTORS is in it's primary uptrend and currently going through it's secondary uptrend.
• After breaking out from it's previous secondary uptrend on 25-Jul-2024,TATAMOTORS had touched the high of 1,179 on 30-Jul-2024.
• From it's previous high of 1,179TATAMOTORS has retraced 14% to 1,008.40 level. TATAMOTORS has re-tested the previous secondary downtrend line and started the upward movement after taking a support at 50 DMA.
• On 9-Aug-2024,TATAMOTORS has closed above 20 DMA.
• RSI has re-entered buy zone on 9-Aug-2024 and trading at 54.16.
• MACD is trading at 14.21.
• Looking good from here onwards.
If you like the analysis, Boost/Like the idea and follow my ID.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
LTP: Rs. 1068.10 (on 9-Aug-2024)
Next Resistances: (1) Rs. 1,179 --> (2) Rs. 1,284
SL: Rs. 950 on daily close basis
Technical View:
•
TATAMOTORS is in it's primary uptrend and currently going through it's secondary uptrend.• After breaking out from it's previous secondary uptrend on 25-Jul-2024,
TATAMOTORS had touched the high of 1,179 on 30-Jul-2024.• From it's previous high of 1,179
TATAMOTORS has retraced 14% to 1,008.40 level. TATAMOTORS has re-tested the previous secondary downtrend line and started the upward movement after taking a support at 50 DMA.• On 9-Aug-2024,
TATAMOTORS has closed above 20 DMA.• RSI has re-entered buy zone on 9-Aug-2024 and trading at 54.16.
• MACD is trading at 14.21.
• Looking good from here onwards.
If you like the analysis, Boost/Like the idea and follow my ID.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
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.