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Buy Tata Motors around Rs 270

We recommend traders to buy this stock at the current level of 270 with a price target of 305. A Stop loss should be placed at 254 on a closing basis.

 

Looking at the daily chart, Tata Motors has formed a strong base near 250 levels and is trading in a narrow range. As a result, it has formed an inverse head & shoulder pattern on the daily chart.
The said pattern will be activated if Tata Motors starts sustaining above 275. The daily Bollinger band has contracted significantly and indicates the period of low volatility.
Considering the above technical evidence, we recommend traders to buy this stock at the current level of 270 with a price target of 305. A Stop loss should be placed at 254 on a closing basis.
MORE WILL UPDATE SOON!!
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