techtrail

Tata Motors: Is it a Potential Distribution?

Short
NSE:TATAMOTORS   TATA MOTORS LTD
Looking this weekly chart, I have a strong suspicion that this could be a prolonged phase of distribution or ranging price action between the Magenta horizontal lines.

Price has been rejected from the upper parallel of the down-sloping fork. As per Andrews rules, there is a strong case now for a test of the medianline or the middle line of that green pitchfork .

Let's see how this pans out..

Comments

With the announcement today's timing this was a good script for a momentum trade... there was a very short time for the market to react fully, I was ready to either go long or short as soon as I got a directional signal. I expect it to fall another 3-4% tomorrow
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