TATA MOTORS is currently facing significant short-term resistance at a crucial lower low level. The stock has attempted to breach this resistance twice this week but has encountered rejection on both occasions. If it fails to overcome this resistance shortly, we could anticipate a further decline, potentially nearing the 600 rupee mark. This outlook is especially pertinent given the company's recent weak earnings report, which has likely dampened investor sentiment and contributed to selling pressure.
Should the stock manage to successfully break through the resistance, it will be vital to monitor its ability to maintain this newfound position above the breakout level. Sustaining this momentum could signal renewed buying interest and potentially pave the way for a rally. Conversely, if the stock fails to break through the resistance one more time, it may present an opportunity to enter a short position, particularly after confirming a bearish technical setup of your choice—whether that be through indicators such as moving averages, relative strength index (RSI), or candlestick patterns.
For those considering a short position, our target price would be strategically set at 600 rupees, whereas if pursuing a long position, we would aim for a target of 825 rupees. This dual approach allows for a balanced strategy, aligning with market movements and technical indicators while managing risk effectively.
Should the stock manage to successfully break through the resistance, it will be vital to monitor its ability to maintain this newfound position above the breakout level. Sustaining this momentum could signal renewed buying interest and potentially pave the way for a rally. Conversely, if the stock fails to break through the resistance one more time, it may present an opportunity to enter a short position, particularly after confirming a bearish technical setup of your choice—whether that be through indicators such as moving averages, relative strength index (RSI), or candlestick patterns.
For those considering a short position, our target price would be strategically set at 600 rupees, whereas if pursuing a long position, we would aim for a target of 825 rupees. This dual approach allows for a balanced strategy, aligning with market movements and technical indicators while managing risk effectively.
노트
With the RBI policy announcement on February 7th, expect market volatility and ensure your stop losses are tight.
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