Tata Motors Comeback
Any pattern in a higher timeframe works out very smoothly.
Here the Double Top Pattern took 7 years from the making to the execution and now the stock has been rising very steadily with growing volumes.
The technicals of Tata Motors are backed by the rapidly growing EV business and a fast adaptation of the same in the country.
Technical Aspect
As this platform is solely a technical base so let's keep it to that only.
1. We have 2 different resistance on the chart in the monthly timeframe.
Resistance 1 = 530/540
Resistance 2 = 590/600
This resistance has a high probability of breaking due to the strength of the current trend.
2. Technical Indicators of the stock are all positive at the moment in all major timeframes. (RSI, Stochastic, MACD, Bollinger Band, Supertrend, and Ichimoku).
3. Auto Sector has turned bullish this month only. Auto Sector has the same chart with the same double top pattern (given that disciples follow the discipline).
These are the following reasons why Tata Motors should cross any ceiling in the current uptrend.
Trade = Tata Motors is a buy at the current level with an SL at the open of the same candle - 495
Target = 1st Target is around 600 then it will be trailing.
Here the Double Top Pattern took 7 years from the making to the execution and now the stock has been rising very steadily with growing volumes.
The technicals of Tata Motors are backed by the rapidly growing EV business and a fast adaptation of the same in the country.
Technical Aspect
As this platform is solely a technical base so let's keep it to that only.
1. We have 2 different resistance on the chart in the monthly timeframe.
Resistance 1 = 530/540
Resistance 2 = 590/600
This resistance has a high probability of breaking due to the strength of the current trend.
2. Technical Indicators of the stock are all positive at the moment in all major timeframes. (RSI, Stochastic, MACD, Bollinger Band, Supertrend, and Ichimoku).
3. Auto Sector has turned bullish this month only. Auto Sector has the same chart with the same double top pattern (given that disciples follow the discipline).
These are the following reasons why Tata Motors should cross any ceiling in the current uptrend.
Trade = Tata Motors is a buy at the current level with an SL at the open of the same candle - 495
Target = 1st Target is around 600 then it will be trailing.
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