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Tata Motor DVR

Discussion in 'Technical Analysis' started by drsuraimardi, Oct 6, 2012.

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  1. drsuraimardi

    drsuraimardi New Member

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    Keep Tata Motor dvr in your watch list.Because it is forming a cup after making a high of 190.I think it will reach 190 and then retrace for some time to form a handle.And after giving breakout above 190 it will go towards 264.
     

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    drsuraimardi, Oct 6, 2012
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  2. sujan4bw

    sujan4bw Member

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    If you see clearly it had formed double top pattern hitting high in range 188 - 190, once on 8-11-10 and next on 23-04-12 which i feel as strong resistance.

    From 23-04-12 it has retraced almost 50% and took support in range of 115 - 122.

    My view is it would easily touch 185. If it breaks 190 above can take position again.
     

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    sujan4bw, Oct 6, 2012
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  3. sujan4bw

    sujan4bw Member

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    It has shown signs of double top but actually not...because it didn't breach previous low of 80.

    188 - 190 is strong resistance as first time when it touched 188 it retraced more than 75%

    Second time when it touched 189 it retraced almost 50%
     
    Last edited: Oct 6, 2012
    sujan4bw, Oct 6, 2012
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