Indian markets are now consolidating after reaching its peak point 15430 (Nifty) and 37700 (bank nifty) When we look at Tata motor stock prices, you can see a consolidation taking place after reaching 350. Keep in mind, this particular consolidation can turn out be a short-term or medium-term correction. To get a complete sense of what I am saying – Take a look the Price Action Analysis of Tata Motors
Price action analysis of Tata motors
We can notice a Structural Uptrend in Tata Motors Stock Prices. After Its first breakout around 112 and a good momentum pickup, stock prices reached 380 within a short period of time. As I posted earlier on my site, it was a good opportunity for trend traders to make money.
But right after reaching 380, Stock prices quickly reversed back and Price action has formed a solid Resistance at 350. People who bought the stock at the top are most likely retail traders and public participants, who are likely trapped in the Stock now
Stock is now consolidating after moving lower from the resistance at 350.00. It’s in a consolidation phase; Looks like trapped players will be struck here for a long time. We can expect a good move only if it clearly breaks the resistance at 350. On the other hand, if we see more selling pressure on the stock, consolidation could turn into a correction. So keep an eye on the Tata Motor Stock prices in coming days.
