Currently, Tata Motors is in the channel support zone. We have two possibilities.
1. If the stock breaks the support line. Then it will touch the orderblock.
2. If the stock breaks the inside symmetric resistance line with a strong bullish candle. Then we can go for buy.
But
Yesterday, Tata Motors emerged victorious in the Singur case, securing an arbitration award of 766 crores and 11% interest. Typically, when a company prevails in legal disputes, it tends to foster a positive outlook among investors regarding the company's prospects.
Next, the company acquires additional funds through a different set of assets, leading to a positive sentiment being expressed. TML gets a compensation of 766 cr + 11% interest, which means around (1100 crores approximate).
Let's see some examples of when the company wins a court case and what stock price will happen when a company gets additional funds.
E.g.)
Zeel - Aug 10 (INDIA TRIBUNAL DISMISSES ALL OBJECTIONS IN SONY-ZEE MERGER CASE - CNBC-TV18) After that stock went more than 20%..
Bombay dyeing - 13 Sep (India's Wadia-owned Bombay Dyeing to sell land to Japan's Sumitomo for $627 mln.) The next day, the stock gap was up at 10%
So TML has more potential to go high.
But do your proper analysis and then you decide.
Note: This is only for educational purposes.
1. If the stock breaks the support line. Then it will touch the orderblock.
2. If the stock breaks the inside symmetric resistance line with a strong bullish candle. Then we can go for buy.
But
Yesterday, Tata Motors emerged victorious in the Singur case, securing an arbitration award of 766 crores and 11% interest. Typically, when a company prevails in legal disputes, it tends to foster a positive outlook among investors regarding the company's prospects.
Next, the company acquires additional funds through a different set of assets, leading to a positive sentiment being expressed. TML gets a compensation of 766 cr + 11% interest, which means around (1100 crores approximate).
Let's see some examples of when the company wins a court case and what stock price will happen when a company gets additional funds.
E.g.)
Zeel - Aug 10 (INDIA TRIBUNAL DISMISSES ALL OBJECTIONS IN SONY-ZEE MERGER CASE - CNBC-TV18) After that stock went more than 20%..
Bombay dyeing - 13 Sep (India's Wadia-owned Bombay Dyeing to sell land to Japan's Sumitomo for $627 mln.) The next day, the stock gap was up at 10%
So TML has more potential to go high.
But do your proper analysis and then you decide.
Note: This is only for educational purposes.
Comment:
It successfully touches the resistance range —better square off your positions or change your stop-loss at 670 or 661 to secure at least a minimum profit.