Is Tata Motors attempting a Breakout?
Looks like Tata Motors is heading up. The chart suggests that it is attempting a Breakout near 120.
Points to ponder:
1. The candles of last 4 days have a small range and small bodies which may suggest a breakout. But not necessarily.
2. The volumes are decently mediocre. Nothing extravagant in that.
3. The retracement candles are red and bigger than their counterpart green ones which indicate lack of momentum
4. And last but not the least, MFI is at 77, approaching a breach at 80.
The Opening of the week is important. The stock retains it Control Price at 103 on Volume and Market Profile. A failed breakout at 120 may see a reversal to the mean.
Happy Trading!
Points to ponder:
1. The candles of last 4 days have a small range and small bodies which may suggest a breakout. But not necessarily.
2. The volumes are decently mediocre. Nothing extravagant in that.
3. The retracement candles are red and bigger than their counterpart green ones which indicate lack of momentum
4. And last but not the least, MFI is at 77, approaching a breach at 80.
The Opening of the week is important. The stock retains it Control Price at 103 on Volume and Market Profile. A failed breakout at 120 may see a reversal to the mean.
Happy Trading!
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