Tata Motors Ltd

NSE :TATAMOTORS   BSE :500570  Sector : Automobile

As shown on the daily chart, Stock formed a Bullish Engulfing candle in the previous session. Prices have been giving a break above the Ichimoku cloud which is a strong indication of a positive trend. The up move has been supported by the base and the conversion lines as both the lines are seen rising along with price.

In short, the trend for Tata Motors seems to be bullish. Move towards 336 and then 355 levels can be expected on upside. On the downside 310 levels is going to act as an important support. A throwback can be expected around 318 levels.

Check More Analysis on Tata Motors at: Tata Motors Ltd

Power Finance Corporation Ltd

NSE :PFC   BSE :532810  Sector : Finance

On the daily time frame, PFC is moving above the Cup and Handle pattern. Cup pattern completed near to the price of 120. The consolidation between 121.85 and 116 levels took around 8 days on the right-hand side of the pattern and the handle was formed. Stock in the previous session formed a green body candle which indicates bullishness.

The overall outlook for PFC will remain Positive. To continue with the up move, a break above the prior day high near 121.85 levels is required. If we take projection of Fibonacci retracement then there is a possibility of seeing the target of 126 and then 130 levels as long as 116 levels hold on the downside.

Check More Analysis on PFC at: Power Finance Corporation Ltd