This trading idea revolves around Tata Motors Passenger Vehicles (TMPV), currently trading around 364 INR. Based on technical analysis and market sentiment, the stock is anticipated to decline towards the 310 INR level.
Analysis Walkthrough:
Current Price Action: The stock is trading near 364 INR, showing weakness with recent downward momentum. The price is below significant moving averages, suggesting bearish pressure.
Resistance and Support: Price action indicates strong resistance around current levels, with previous lows and support zones around 310 INR serving as a potential target area.
Indicators & Confirmation: Momentum indicators (such as RSI and MACD) likely signal bearish divergence or downward trend continuation, supporting the short bias.
Volume Analysis: Volume trends may confirm selling pressure, reinforcing the probability of a downside move.
Trade Setup:
Entry: Initiate a short position near the current level (around 364 INR).
Target: Set a profit target near the key support at 310 INR, which aligns with historical price reactions and expected market behavior.
Stop Loss: Place a stop loss above recent swing highs, ideally around 375-380 INR, to protect against unexpected bullish reversals.
Analysis Walkthrough:
Current Price Action: The stock is trading near 364 INR, showing weakness with recent downward momentum. The price is below significant moving averages, suggesting bearish pressure.
Resistance and Support: Price action indicates strong resistance around current levels, with previous lows and support zones around 310 INR serving as a potential target area.
Indicators & Confirmation: Momentum indicators (such as RSI and MACD) likely signal bearish divergence or downward trend continuation, supporting the short bias.
Volume Analysis: Volume trends may confirm selling pressure, reinforcing the probability of a downside move.
Trade Setup:
Entry: Initiate a short position near the current level (around 364 INR).
Target: Set a profit target near the key support at 310 INR, which aligns with historical price reactions and expected market behavior.
Stop Loss: Place a stop loss above recent swing highs, ideally around 375-380 INR, to protect against unexpected bullish reversals.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.