TataMotors - Upside Failure- Leaked Below 437- Got your turn?

TM- Tata Motors
From Previous Analysis- we picked TM above 450 but unfortunately -it did not move above 460 convincingly so, came out of the trade above our entry point at 450 & above.

Leaking below 437, TM showed more weakness & travelled till 417 lows recently. In current scenario 428-430 is the resistance zone- if TM comes in the zone 425-427 gets rejected then bulls should be careful.

Short Term Trading Strategy
Bounce in the zone 425-427 can be looked as resistance zone -once holds & starts falling back below 425 then look for Intraday moves of 415-417. This trade to be active -it should get resistance in 425-427 & behave as we expect.

You would love to read my previous update- "Hitting the Top@485- Are you dreaming - Drive it"

Trade active:

16:45 Hrs 9th May2017

Last Price@426.80

Got the bounce as expected to 425-427 Zone for the day

Trade active:

23:25 Hrs 11th May2017

Last Price@427

425 is holding for good so unless 425 is broken down & sustained TM won't go down in that case holding stops below 425 - TM can bounce back to 430+ in sideways positive bias.

Trade active:

10:15 Hrs 12th May2017

Last Price@430

Short Term Target Achieved above 430+ as expected previous night holding above 425.

Trade active:

22:35 Hrs 15th May2017

Last Price@431.90

Do not forget 425 - going below 425 - mini bottom shall make TM weak for downside- it should sustain below 425 later.

Trade closed manually:

11:45 Hrs 16th May2017

Last Price@438-439