tata motors over bought.As we can see, today was a very awesome day for the bulls. as the price goes up significantly. due to that shares got over bought and the price is way above than vwap (blue trendline).
my idea is on monday it is gonna be a bearing market cause the price want to come back to vwap.
TATAMOTORS trade ideas
Tata motors short term tradeTata motors is continuously breaching the technical patterns..just because of low volume even the good breakout result in strong bearish pattern for short term. Here is my trade for tomorrow.
Flag pattern on 15 min timeframe for the target 440-441 with stop loss 433. Even this stop loss can act for 4hr time frame as well.
2.5 Risk reward ratio.
Always trade momentum with price action.
TATA MOTORSThe idea is based on the Elliott Wave Theory. The long term bullish cycle has started from March 2020, and after a 5 wave (impulsive) rise, the price is now correcting (WXY correction). The level of 300 is crucial as it is a strong resistance and also coincides with the 50% fib. retracement.