Trading Strategy for Bulls
484-486 is the zone of importance as upside & downside reversals has been seen in that zone quiet frequent shown by thumb, so moving above 486 on sustained basis we will look for 515-525 as Target Zone for bulls.
Trading Strategy for Bears
Once the completes & faces resistance in the zone 515-525 - taking care of 552 not to be breached upside, otherwise this pattern fails but if we see any weakness in the desired zone as mentioned then we will look for targets 485 back & below 475 it can retest 400-420 zone.
Previous Analysis - Hitting the Top@485 - Are you dreaming -drive it.
Resistance zone 484-486 was intact & TM had a fall to 453 lows - as I said buy only above 486 levels.
Gap 450 to 460 zone can provide support Moving upside from this zone likely above 465 can test 485 & above 486 -it moves to 515-520.
Today it was range bound movement got small move till 263-264.
Moving above 265 - It should travel upside & should hold 265 once it starts moving above 265 mark.
Sorry for all typo mistakes above -levels mentioned above are in 400+ not in 200 which is written by mistake.
Any move above 464-465 zone -we should be interested to buy Tata Motors.
On the verge of crossing 464-465 zone as suggested few mins back.
Got small move upside for the day
Pushed upside taking support of the gap as shown in previous update @21:21 Hrs 7th June2017
After 15 days it is back with a bang above 455 -Holding 455 & above it is looking promising for 485-488 & above 488 for 515-520 zone.
Hope you guys kept this stock in radar.
Not Crossing 470-471 so book partial profits & join back rally above 471 later or at pullback to 460-462 zone.
Wow -It falls from 470
Pullback as expected from 470-471 as per above update at 14:50 hrs 20th June2017 looks almost done at lows of 460.40
Any move staying above 460 can be expected to move beyond the highs of 470-471 Zone- going into the next resistance zone of 475-477.
Staying above 460 is the first sign for upside move resumption - risk traders can take long if it holds above 460 with stops below 455 but likely if goes below 460 can break the position immediately else wait for 470-471 & beyond 471 for 475-477.
Safe Traders look to enter if Tamo moves above 463 & holds above 460 for 470-471 & later 475-477.
Struggling to hold above 460 -
Any fresh buy position we will take next only above 471 or we will keep a watch in the structure as it has become choppy.
Tamo is moving in the channel now. Any move holding above 455 can test or kiss the channel top.
Once it crosses 470-471 hurdle -likely it should test 485-488 Zone but not before 470-471 cross.
If falls below 455 -look at your end probably it falls more on downside. Do your own analysis below 455. Trading here -could be a real challenge.
Travelled all the way from the channel top 470-471 - where we exited earlier last week & suggested above going 455 - it can travel more on downside - do your own analysis.
Allow prices to take support between 437-440 zone -if this zone holds, then likely we get the upside push or move.
Started from 444 - had a fall to 440.15 - suggested above 437-440 to hold- Pushes upside to 446- Magic starts again at 440
If this zone 437-440 holds -it is better for an upside move.
Again came close to 440 - made a low 441 odds. Once it starts moving above 446 - Awesome
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ