Sell TataMotors Below 160

As per chart I am bearish on TataMotors. Risk taking traders can take the trading opportunities and make money via swing trades. Once stock moves in the direction of trade, keep trailing your stoploss.

Almost all indicators and moving averages suggests selling it except for CCI and RSI which suggests a buy. Stock is in oversold territory. Positionally you can short it below 160 levels. 150 may get some support as highest put writing is done for 150 strike. Also round figure support may also help the stock sustain these 150 levels. Otherwise, there is no psychological support nearby and basis monthly charts stock may go down to the levels of 150/143/137/132.8.

Strategy:
Anyone who holds the stock must hedge it by buying 1:1 PE option. To cover the PE premium sell out of money CE contract of 180 strike. Here for each PE lot you buy; you must write 2 CE contracts to break-even the option expenses.

Alternately write 180 CE nacked contracts and maintain a buy stoploss order above 170. Keep maintaining till your profit target is made.

Trade closed: target reached:

Partial target met. it didnt reach 150 levels. However exited with 4% ROI.