March 6, 2013

TATA MOTORS Chart update


  • TATA MOTORS Trying to breakout from a contracting triangle has stiff resistance in 50 Day SMA and Golden ratio. Crossing these resistance levels may result in a bigger up move.
  • Getting resisted near golden ratio may keep price in a range between 23.6% and Golden ratio.
  • CRUDE OIL CHART UPDATE
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3 comments:

  1. AnonymousMarch 7, 2013 at 10:05 AM

    San

    Could you confirm if todays price action has moved into contracting triangle after yesterdays breakout?

    ReplyDelete
  2. SanMarch 7, 2013 at 11:48 AM

    @Sampy
    Price is still outside the contracting pattern. But Tata Motors should sustain above 305 levels. Price may come back to close above 305 But one should have proper stop loss for the trade.

    305 is the 50 Day SMA.

    Bulls will gain strength above 312
    Weakness below 300.

    ReplyDelete
  3. AnonymousMarch 7, 2013 at 11:28 PM

    Thanks

    ReplyDelete

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