Looking forward to go short between 124-129 around mid Octocber upon a bearish signal.
Will update the entry, targets and SL once the trade is active.
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. Tatamotors went to 124-129 zone as per our analysis. We were waiting for a reversal signal in this 124-129 zone before going short. As seen on hourly chart its currently finding strong support and is also above 200 hour SMA. So wait for a a breakdown below 200 SMA before going short.
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Short Tata Motors below 122
SL: 127.75
T1: 113 T2: 106 T3: 98
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Short trade not triggered. Looking for opportunity to go long at 130
Trade active
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As mentioned on Oct 17th "Looking for opportunity to go long at 130" after the channel breakout and short idea getting invalid. Now 130 level is being tested and we see that its being defended by the bulls.
I was in short position since 6th October, but exited yesterady (7th). Strong support is there in 110-119.
k314
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@akshay1808, You are right. Currently at the support.
As per my pitchfork analysis also its currently finding support at the median line. Any bounce from here towards the 124-129 zone (marked on the chart) is an opportunity to go short with excellent risk reward.
@brijeshb30, i mentioned "Looking forward to go short between 124-129 around mid Octocber upon a bearish signal."
"upon a bearish signal" so wait for a reversal signal on hourly chart before going short. I will update the post. Follow me for regular updates.