A daily close below 165 is a great shorting opportunity
Why 165 ?
because 165 is the number on daily chart where it has formed a support / resistance three times in the past
What should be the stop loss ?
Simple - a daily close above 165
what should be the target ?
Targets should be taken along the way up-to 150/155 !!
Here i have shown a weekly chart of Tata motors with support and resistance
As an investment - i guess Tata motors is a good buy because of following reasons :-
1) Break of lower low - lower high pattern..
2) Break of trend-line..
3) Mac-d on weekly & daily time frame is positive..
Buying can be done in the range of 160-170 with Sl as 150....
As Joel had predicted (Link below), Tata motors bled before Valentine day .
I also wish to thank yogi sharma & Ajay sharma for the wave counts in Tata Motors...
Now what Next
As pointed in the chart ,
The next question will be -- Can Tata Motors now cross the hurdle or the Supply area ??
I present this question to the esteemed trading-view audience !