Date: 11-Aug-2024 LTP: Rs. 1068.10 (on 9-Aug-2024) Next Resistances: (1) Rs. 1,179 --> (2) Rs. 1,284 SL: Rs. 950 on daily close basis
Technical View: • TATAMOTORS is in it's primary uptrend and currently going through it's secondary uptrend. • After breaking out from it's previous secondary uptrend on 25-Jul-2024, TATAMOTORS had touched the high of 1,179 on 30-Jul-2024. • From it's previous high of 1,179 TATAMOTORS has retraced 14% to 1,008.40 level. TATAMOTORS has re-tested the previous secondary downtrend line and started the upward movement after taking a support at 50 DMA. • On 9-Aug-2024, TATAMOTORS has closed above 20 DMA. • RSI has re-entered buy zone on 9-Aug-2024 and trading at 54.16. • MACD is trading at 14.21. • Looking good from here onwards.
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