After a decent correction, Tata Motors has bounced from lower levels and has given a breakout above the downward sloping trendline around 267-268 levels on Monday with higher volumes in daily scale.
We saw a positive divergence in Relative Strength Index indicator in daily scale along with positive crossover in MACD whereas positive DI trading above negative DI, which indicates decent upside expected in coming trading sessions.
Traders can accumulate the stock in a range of Rs. 266-269 for the upside target of Rs 310 and a stop loss below Rs. 252 (closing basis).