After the huge success of TTTB Trading System in picking up COAL INDIA share price trend correctly, I have received many requests from readers to disclose next pick of TTTB. Yesterday I have run the scan in TTTB and found some interesting observation in Tata Motors stock price trend.
First, let’s see the Amibroker scan screen of TTTB Trading System. I have scanned inside the Nifty 50 stock list on 27th April night. See the image below:
It has been noted from the image above that we got buy signal from TTTB Trading System in two scrips – TATA MOTORS and TATAMTRDVR.
If we switch to TATA MOTORS daily chart we can see that the price has broken peak yesterday triggering a buy and the KRA value is at -7. Also, I have noted the Tata Motors scrip has made a 3 month’s high in January and till then it has not made a 3 month’s low. So we can assume that the scrip is bullish as it has last made a new monthly high. After the new monthly high the scrip went to correction mode and now again the price is trying to turn around.
If I check the stop loss value for the buy trade is at 437.60. So, the Tata Motors stock price trend is clearly up and next few sessions intraday traders can start buying the scrip in 1%-2% intraday dips.
For positional traders who are following the TTTB Trading System can buy the scrip at the current price (now trading 459-461 0n 28th April, 1 PM). Positional players should maintain stop loss below 437.60, the system stop loss.
Immediate Tata motors share price target is 466 for intraday traders and support at 455-458. Positional players have the target of 480 and then 492-505. Do you want to analyze a stock yourself? We are giving TTTB free of cost to our Trend Blaster Trading System subscribers. To immediately get access to Trend Blaster + TTTB CLICK HERE.
Indrajit is a professional blogger and trading system developer. Amibroker expert, WordPress expert, SEO expert and stock market analyst.Trading since 2002, he has started the journey of StockManiacs.net on 2008. He follows Indian and world stock markets closely.