Buy on Dips / CMP is 304
The breakout is clear and the uptrend since 7th Jan 21 continues.
I say buy on dips because this sudden and sharp uptrend might lead to a correction upto 250 levels.
The risk level is high but so is the reward. Checking the daily charts (resistance not available on hourly charts), the first resistance is at 360 levels followed by 410 levels.
Tata motors has been in a downtrend since Sept 16 and didn't show a reversal until April 20 but the prices have been crawling upwards since then.
Trading strategy says that we should follow the trend and what's better than a Tata script?
The breakout is clear and the uptrend since 7th Jan 21 continues.
I say buy on dips because this sudden and sharp uptrend might lead to a correction upto 250 levels.
The risk level is high but so is the reward. Checking the daily charts (resistance not available on hourly charts), the first resistance is at 360 levels followed by 410 levels.
Tata motors has been in a downtrend since Sept 16 and didn't show a reversal until April 20 but the prices have been crawling upwards since then.
Trading strategy says that we should follow the trend and what's better than a Tata script?