TATA MOTORS | TRADE SETUP 28-07-2021

27 ביולי 2021

TATAMOTORS

TATAMOTORS has been forming RSI bullish divergence. It is making lower lows in price action while RSI is making higher lows.

Things to remember.
Since, this RSI bullish divergence is not yet confirmed so better to trade at pre-decided levels only.

Tomorrow if this will be the bullish divergence then there will be a bear trap in the initial 15-20 minutes. In which the stock will go down quickly and then suddenly it will go up. At this moment better to keep an eye on RSI. If RSI makes the low and if it is higher than the previous low then there will be scenario of up trend.
And only enter in buy trade at pre-decided levels.

Otherwise it will give good opportunity to sell below 290 range.

And if you want to trade in option then better to trade in Aug month option.

Do comment if my ideas are helping you to understand trend, levels and price action.

Let me know if you have any doubt or suggestion.