This blog is my trading diary. It is an attempt to organise my analysis and thoughts. I follow the charting methods given in JUST NIFTY blog by Ilango sir and so the charts would have striking resemblance to his charts. I am indebted to Ilango sir for having made this blog possible for me.

August 2, 2013

TATAMOTORS AN ANALYSIS

Tatamotors is at a Make or Break Juncture. As per the weekly charts, there are two possibilities -  either  breakout above 303 which would give a huge run-up targetting 320++ or breakdown below 276 to intially 260 levels.

DAY chart:

 
Hour chart:

 

10 DMA 20 DMA 50 DMA 100 DMA 200 DMA
  293.86   291.26   292.91   289.23   289.94

All Moving Averages are converging and currently TM has closed below all averages. An EOD close above 293 would warrant an upmove.

Synopsis: Positionally Sell below 291.5-293  with SL EOD close above 293. If EOD close is above 293-294 then Stop and Reverse with SL 288 below 200 DMA.
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2 comments:

Anonymous said...

Thanks Mam for charts and sharing your perspective.

August 3, 2013 at 11:43 AM
Anonymous said...


TM achieved "C" tgt on weekly charts today.

August 14, 2013 at 5:53 PM

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