Considering the Double Top and its Volume, I observed that Tata Motors is in Strong Resistance Zone. So one can short at its latest double top price Rs. 279.20 with a Stop Loss of 288.10. The target is fixed at Rs.270.30 taking 1:1 ratio of Risk and Reward. The Target achieved within 4 days.
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Hi,
The double top has two same highs Or it looks like an “M” shape structure. Since the stock is unable to make a higher high, this tells us that the bulls are getting tired. The bears may be coming in to drag the stock lower.
please find the attached screenshot for your reference.