Tata consumer looks poised for 650 -680 -790 levels. Close below 585 would negate the view.
Selling put of 580 SP on retest of 620-616 zone can be a good option. Cover can be given by selling put of 550 or 540 ( check availability ) . Simultaneously buying call of 620 or 630 ( check availability ) and selling call of 680/690 is a good strategy.
Disc : it's not an...
Tata Motors is now in the Buy Zone. I have already bought 500 shares at 66 and I plan to keep buying all the way till 25 if it drops there.
My first target will be at 140 which is at the top of the short-term price channel.
My next target is at 280, which happens to be the previous support turned resistance.
And my final target is 600. I expect 3-6 years...
There is a head And shoulders pattern formation near the supply zone for the TATAGLOBAL and hence we can expect a trend reversal and momentum to downside ..
Listed the possible entry , SL and TP level .. lets see how market moves .
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