- Tata motors daily shows oversold indicator levels. Price is moving into a crucial support zone. If the level is held a reversal is possible. That is a Big IF and one has to trade with caution.
- Week and Month shows the support levels. Bigger weakness for the stock on closing below 420 levels in Higher time frames.
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- Tata Motors bulls is trying to hang on to the 200 Day SMA. Bulls need to stay above 200 SMA for a possible bounce towards the GAP in daily chart. If the low of 443 breaks then price may test the 420 - 425 zone.
- Daily chart shows price below the cloud. Its sell on rise till price stay below the cloud.
- TATA MOTORS WEEKLY DOUBLE BOTTOM
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- Immediate resistance levels for tata motors are 185 and the zone between 210 - 216 level.
- Price is also closing in on month High EMA. A bigger rally is possible only once price manage to close above month high ema.
- Weekly cloud and Month High EMA may act as resistance levels in the short term.
- Tata motors has clearly broken its weekly uptrend line.
- Price is about to complete 50% retrace in weekly chart.
- Weekly charts are looking oversold.
- Daily chart is starting to develop positive divergence
- We might see another dip towards 750 - 760 levels before price starts to move up again.
- Best way to play positive divergence after a big down move is to confirm with a close above 5 day high ema.
- Stock is in a strong down trend so stay short while it closes below 5 day low EMA.
- Longs are possible only on a close above 5 day high EMA.
- S&P 500 ANALYSIS AFTER CLOSING BELL
