If it breaks the channel, short it. Or go long. Looking at today's FII activity, I see no buy-in tata motors. Also, the %deliverable quantity is 15.13% only, which is less. So most likely it might break the channel and go down.
I recommend hedging of your position. I am not very bullish cuz FIIs are not bullish yet. It is only the PRO players who are bullish. Also the indicators are at the top. Possible dip to be seen in the coming week.
Not in a position to give a target.
Firstly, look at my previous post on Axis bank. Now, indicators are at the extremes. Looks like Nifty will fall, so Axis Bank has to. Plus Axis is in a channel as shown.
Firstly, Axis Bank seems to be following a trend. It has closed at the bottom of the channel. Now look at the stochastic indicator, again at the bottom along with RSI. A possibility of upmove can be seen.
Firstly, look at the channel, the candle closed at the bottom. Now look at the stochastic indicator, it has hit the bottom along with RSI. You can verify with 15mins, 45min, 1-hour charts. Looks like there is a possible up move.
Suggestions are welcome.
