Tata Motor Stock Analysis | Tata Motor Stock Techincal Point Of View Explained
Tata Motors is a very good bluechip stock and has a very good image in the auto sector. This article is updated from time to time. Whenever something valuable will be available to add. We shall add that details here and that will surely help you. Tata Motors was in news previously because of its breakout and huge return in a very short time. Even we booked a good profit at the time. Since then people are wanting to make the positions in the stock.
Now we will be discussing the Technical perspective of Tata Motors.
Let's take a look at this 1-day chart above. We can clearly see that stock broke a range. You can see the range we market it with green lines. Now after the range breakout we can only do range breakout trade setup as per the 1 Day time frame. We saw that after breakout it formed a flag pattern and that is indicating an up move. Currently, the whole market is down and that is the reason behind this stock downside move from the flag. What we can do now is for the stock to move out from this flag or if you believe in the technical analysis then you can take the entry now.
Take a look at this 1hour time frame chart for tata motors now. You see that flag formation is a range in 1hr time frame. Now if we do the range analysis we see sellers heavy in that. We have marked the areas in range to showcase the dominance of the players. The big circle indicates the moves of sellers and after that, we can clearly see the seller's heavy. Now we will wait as buyers can react any time. If we don't see good buyers then the stock will plunge into the previous range as there won't be much good support to hold the price. As per the 1 hours time frame, we have to observe the sellers now. They can form a small range just below the range or price can come into this range again that is the price from 480 to 510. Currently, the strong pattern here is the flag pole pattern. but in a lower time frame we have to observe the sellers.