I do not have much to explain here, apart from this is how I got into this trade. the upside is still there. Target is between 160-170.
Trade accordingly
Trade accordingly
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Trade Notes:
I have been monitoring tata motors for quite sometime before initiating this trade. Between 22nd and 29th October, I expected that 130 would act as a great support level since the price was moving already in an upward flag pattern. Although I should have waited for it to retest its support after exiting the channel pattern, I bought it at around 139 keeping the target of around 160. luckily it took off towards the target. Exiting today with a +20% gain within 6 trading sessions. I further seeing some upside because it looks like a long-term downward trendline has been broken.
Trade accordingly.
I have been monitoring tata motors for quite sometime before initiating this trade. Between 22nd and 29th October, I expected that 130 would act as a great support level since the price was moving already in an upward flag pattern. Although I should have waited for it to retest its support after exiting the channel pattern, I bought it at around 139 keeping the target of around 160. luckily it took off towards the target. Exiting today with a +20% gain within 6 trading sessions. I further seeing some upside because it looks like a long-term downward trendline has been broken.
Trade accordingly.
Trade accordingly