AbhishekHSinghCMT

Tata Motors - Hitting the Top@485- Are you Dreaming- Drive it

Short
AbhishekHSinghCMT Updated   
NSE:TATAMOTORS   TATA MOTORS LTD
18
You can't ask market more- kya kare dil mange more

1st March2017 update - "Trapped in motors from 500 zones-Line in sand@502" shall tell you the complete story- If haven't read -just go & pick the copy at or just click the chart.

Review of previous analysis

Scenario-2 - Expected a buy in the zone 440-445 & moving above 455 shall confirm- Awesome it moves to 448 just missed the zone but heads up & crossed 455 -confirmed for upside & target achieved as per scenario-1

Scenario-3- Are you dreaming - drive it - market never gives second chance & if you get it then you are blessed one- Vow! It makes a high 485 & drops to 471 in 17th March 2017 session.

What Next?
The fall from 485 to 471 in today's session was impulsive & hot- likely I played in between as well -as a scalper above 475 to 478 intraday ending session.

Trading Strategy
Stops- 485+

Scenario-1 If TM comes in the zone 480-482 & starts falling back below 475 -putting stops above 485 Shall be looking for target 405-415 in 30-40 days duration.

Scanerio-2 If TM falls below 465-467 & sustains below that level then we have target zone 445-448 support as the next stop

Scenario-3 Risky Traders - They can go short- close to 485 if you get the bounce in the 480-482 zone.

Scenario-4 Breaking below 445-448 zone - Some Selling Pressure could be seen in the counter.

Have a nice weekend.

Regards,
Abhishek H.Singh CMT
Trade active: 12:38 Hrs 22nd March2017

Last Price@465

Day Low@463

Falls from 478 close to the expected zone 480-482 & made day low@463 -indicating weakness in the stock

Trade active: 20:57 Hrs 9th April2017

Last Price@469

TM falls again from 480-482 zone -Loves that zone. Risky Scenario-3 & Scenario-1 works again.

Going below 458 - shall continue down for 448-450 target zone.

Trade active: 20:31 Hrs 11th April2017

Last Price@472

Again falls from highs of 478-480 -going below trendline shall puke more.
Trade active: 14:31 Hrs 13th April2017

Last Price@453

We will not carry & any position for weekends as Friday is holiday & long weekend -Shall have a look next week.

Enjoy all!- Happy Good Friday -14th April2017

Trade active: 14:56 Hrs 17th April2017

Last Price@451

Day Low@448- Taken support at the previous low of 448 - No shorts please - close all your selling positions if taken -we are still in big profits.

Trade active: 06:10 Hrs 18th April2017

Last Price@447.50

Going below 448 TM is prone to more weakness & we will see if we get a bounce for selling & looking for lower targets.

If it holds above 448- we wait to see what kind bounce are we getting.
Trade closed manually: 14:48 Hrs 18th April2017

Last Price@448- Closing the post.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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