Sunday, October 27, 2013

Technical Analysis of TATA MOTORS & Trading plan guide

Tata Motors: 15 mins chart

Tata Motors : Hourly chart

Trading Plan for 28-Oct-2013: Price levels mentioned are for NSE Cash Market.

Overall view for Tata Motors is Bearish

However on monday, If Tata Motors Opens above its pivot price of 376.10 we can buy it immdtly for a quick target of 376.9-377.9-378.9. While buying we should keep stop loss at 375.40.

When it reaches near 379 it is likely to halt and if it is not able to cross above 381 then you can think of  short selling it at 379.4 for intraday targets of 376-371. While short selling please keep stop loss at 2 ticks above days high

If overall market, Nifty remains weak then we may see Tata Motors even correcting upto 361-356 in near term. As shown on the hourly chart. 

Happy Trading !!!

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