Hi Traders,
Tata motors is not in an uptrend as this up swing can be a retracement of the previous downfall. The reasons to believe so are that the price rejected from the golden zone and can test 117 or even the 96 levels. The weekly chart is in downtrend and price tested the weekly trendline in confluence with the golden zone. If the price breaks the weekly trend line its a buy till 250 levels. But for now we are short on this scrip until it breaks the weekly trendline.
For trade ideas on this setup like and comment below.
For weekly analysis of NSE stocks follow.
Happy Trading.
Tata motors is not in an uptrend as this up swing can be a retracement of the previous downfall. The reasons to believe so are that the price rejected from the golden zone and can test 117 or even the 96 levels. The weekly chart is in downtrend and price tested the weekly trendline in confluence with the golden zone. If the price breaks the weekly trend line its a buy till 250 levels. But for now we are short on this scrip until it breaks the weekly trendline.
For trade ideas on this setup like and comment below.
For weekly analysis of NSE stocks follow.
Happy Trading.