If Butterfly true. expect 420+ plus

TAMO overall trend in 2017 was down. Nifty saw huge gains in 2017. I am not sure why the stock fell below 400 levels but with new TATA cars which have the heart of JLR designs, sales will definitely pick and they already have. I see a lot of new Hexa and other TATA cars. Also if you see the down channel , the stock is holding 360 levels so it is highly unlikely that it shall fall below 450 levels. You can draw a three drives pattern, which may look like it will drive the stock down further below 300 levels but i highly doubt that it is following this pattern.
2 reasons to long.- If this ends up in bullish butterfly it will break the year long done channel. and if it breaks a year long down channel then expect a huge upmove. see TechM chart you will see that it shop up 100 points after it broke the year long down channel .
See money control .you will notice bulk deals being executed. Feb contracts saw an increase in OI % with a decrease in price indicating a short positions being build up. Wait till expire for the shorts to cover. Above 370 we might see fresh buying.
I hope this helps.
Comment: Even all my oscillators are waiting for a reversal
Trade active
Trade closed: stop reached: short positions this month .trade exit. it will fall further.