INTRADAY ANALYSIS - TATA MOTORS

Hi Traders,
Tata motors is in an uptrend as per 50 SMA in multiple time frames. The price made a higher high confirming a short term uptrend. We have support at 151.20 and 148.70 respectively. We have the golden zone between 146.70 and 144.70.
The golden zone is a strong zone as there is price action on the left and is a major key level according to higher time frames. We dont recommend a blind entry at these levels.
A chart pattern like double bottom or inverted heads and shoulders forming at these levels in lower time frames like 1m can be considered as a confirmation for entry.
The target and stop loss can be placed according to the pattern that gave us the confirmation.
For any doubts regarding this trade setup pls comment below.
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Happy trading.....

註釋

hope everyone found this useful.

註釋

Hi Traders,
as we review the trade setup, u can see that price opened gap down below the support level making it the resistance level. Then price broke the resistance level and retested the same, we could have entered at the retest and could have booked a profit of 1%.