AbhishekHSinghCMT

Tata Motors -Selling From Top@372 to 355 - Doing Bearish Job

NSE:TATAMOTORS   TATA MOTORS LTD
The rally from bottoms@324-325 look impulsive in nature & came back to 370-377 - an important distribution zone where we expected a fall close to 355 as initial target as suggested in GSFC post.

Actual-356.50 was done today@6th April 2018

What we expect next ?
We shall look for a bounce from 355 -356 zones close to 365-368 zone - if motors fail again to hold above 365 means going above 365 & dropping back below 365 in later session shall likely take it back to same levels of 355 & below 355 for lower targets of 340-345.

Tata Motors doing its bearish job in upside maarket - takes lot of effort to do so against unfavourable condition- That's nice

At 373 -373


At 364 - Doing its bearish job


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GSFC Post - 165 to 113 - Did you jump ?

Trade active: 11:26 Hrs 6th April 2018

Last Price@365.70

Entering The Zone 365 - 368 as expected

Trade active: 11:45 Hrs 6th April 2018

Last Price@367.50

Plan of Action

We are waiting for motors to fail - "if it fails to hold above 365 - means going above 365 & dropping back below 365 in later session shall likely take it back to same levels of 355 & below 355 for lower targets of 340-345.
Trade active: 11:59 Hrs 6th April 2018

Last Price@366.25

Failing close to 368 - upper level as expected so keep stops above current high of 368.50 as per cash data.
Trade active: 12:05 Hrs 6th April 2018

Last Price@366.50

Very close to 365 & took U -turn above 365 - further weakness only below 365 levels.
Trade active: 12:12 Hrs 6th April 2018

Last Price@366.50

Do not get confused with my style of trading. Risky Traders could sell close to top level of 368 - with stops above 368.50 & Safe Traders should sell below 365 -stops remain same as 368.50 for downside target of 355 below 365.
Trade active: 12:55 Hrs 6th April 2018

Last Price@364.30

Book Partial Profits & Take Rest or Out -if it is not dropping below 364 next or Nifty Holding above 10300 levels.
Trade active: 13:26 Hrs 6th April 2018

Last Price@364.50

Nifty Holded 10300 levels & Tamo slightly went below 364 & bounced back above 364 - Book partial profits & out - If Nifty starts moving above recent high of 10330 - 10335 - Intraday Bulls return back in Index & drive the motors as well for an upside ride.
Trade closed manually: 13:39 Hrs 6th April 2018

last Price@364.30

Thanks & Best of luck for remaining session.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
https://twitter.com/TalksWave

Comments

Abhishek this was best......
Reply
Nice Intraday call , Very nice.
Reply
@neneram, Cheers! & Have a nice weekend.
Reply
Idea vaid for today only
Reply
AbhishekHSinghCMT SatyamMishra
@SatyamMishra, If it remains or goes below 365 then you can put trailing stops of 367 & wait for targets downside- It becomes STBT
Reply
Sirji ,
In my view it might turn back from 270.25/40 , Lets see.
Reply
@neneram, 270 ??? is too far
Reply
neneram AbhishekHSinghCMT
@AbhishekHSinghCMT,

oops,Typo -- 370.25/40 zone
Reply
hi Abhishek what is the SL for tatamotors short
Reply
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