CRAME NOTE: TATAMOTORS - CONSOLIDATION WITH AN UPWARD BIAS

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The home grown automotive manufacturer from the Tata stable has  been the favorite stock of those who followed Sell on Rise strategy. The southward movement in prices got arrested near 60 levels and ever since the stock has been making an effort to capture the lost ground. The recent price movement suggest a consolidation with an upward bias. One can see a triangle formation in the daily chart. If the price breaks above the triangle ( marked as Long Entry Price Point in chart) the stock can attempt the price targets mentioned in the chart. The stop loss levels for this trade set up is also mentioned in the chart. The overall improvement in product profile on account of introduction of new brands could also aid this price movement from a fundamental point of view.


Note:

The first version of this analysis appeared in the educational blog of Center for Research in Asset Markets and Economy (CRAME), Christ (Deemed to be University) Lavasa

DISCLAIMER

The content provided in CRAME blog is for educational purposes only. CRAME or the analyst(s) do(es) not assume any responsibility for the financial decisions/actions made on the basis of the analysis presented in the blog.

Analysts

Prof. Binu P Paul PhD
Prof. Soumya V ACSI

You can track the progress of this call in the web link below

Comments

  1. Arun21 July 2020 at 14:31

    Tata motors have been marking their growth ever since their acquisition of Jaguar and Land Rover companies. The cars that have been shelled out of Tata motors design studios and production plants have been the best of both worlds. The Tata Safari Storme which was launched in 2012 has been the pioneer of this.

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