[TataMotors]: Set for Breakout and Likely to Hit All Time HighTataMotors is strongly bullish and ready for a breakout.
I am planning to add some shares of TataMotors to my portfolio.
Entry Criteria:
Long Only- TataMotors looks strong above 361 with an initial Stop Loss at 251 for a target of 600
However, I will book partial profit near short term resistance levels @ 432, 485,550, and final 600
Risk:Reward ratio is more than 1:2
Tatamotorstrendanalysis
TATA Motors Wedge breakout-- INTRADAYHello Fellow Traders,
Hope you are doing well. Tata motors after big rally need to cool off a bit to fill the potential gaps that is around 287-288 which aligns with the Fib level 61.8 . We will definitely most likely see a small profit booking then jump to higher levels again my stops will be just above the wedge and Targets will be 300,288 but along the way I will trail the stop loss to BE as it goes in my favour.
Short positions are risky. But, We have stops incase the market humbles me.
We are good and let's see how it goes.
Good Luck Traders
Position: Invested Tata Motors Ltd at ₹ 83.5Goodluck Capital Investment Advice
Buy Tata Motors Ltd (NSE: TATAMOTORS)
CP# - 83.8
Buy Range - 80-85
Target - 200-220
Duration 1.5-2 years
Potential Return^ 150-170%
# Closing price on May 14, 2020.
^ Potential returns are calculated based on the median of buy range.