Simple TA on Tatamotors. Price above 172, bullish, for a target of 190. If it turns around now, downside target is around 154 level.
I think the SP has bottomed out in the medium to long term point of view. We can have multi week/month rally from here and now. So don't see much of a downside risk
Keep a safe stop loss level.
PS: I do currently hold a small PE...
Analysis getting cumbersome so posting a new chart and keeping an update in the previous chart.
Strategy for tomorrow: Bank Nifty is in a tricky situation. At present price there is not much of a risk-reward ratio. So better wait it out for a particular trade option.
However the situation that could unfold may be:
Can short @ cmp 29459 with SL @ 29520 for a...
If nifty closes above 11670 can take long position on successful testing of it as support level with stop loss at 11480.
If NIFTY decides to turn around from here, can short with a target 10000 levels with stop loss at 11675.
With recent volatility in INFY, I think the H&S pattern formed could be either a continution pattern or a top being set. Case for long: A long position cn be initiated with the SL 764 for a trget of 811. If the SP breaks below 760 sp will get to 680.
From chart and general observation I expect Indusind bank sp to go below than current levels. So will look to short around if the price gets to 1360 with the potential to break recent support 1200 level
ITC chart is looks for a direction... Long position can be initiated after successful test of 246 level, with a stop loss of 234. Not sure whether this counter offers a decent trading oppurtunity for anyone. I took 3 trades and exited all of them with a loss. Can't get to my head around this stock...
The chart shows downtrend of TCS from 23/08/19. The high volume accompanied by today's reversal bar indicates that the downtrend could be over. A long trade can be initiated with a suitable stop loss for next 3-4 days, as a counter trend trade.
BPCL has done an extraordinary move over the past 34 trading days and closing the week at the support level. Can be a potential short if it opens below 488 for downside target of 448/418. For longs, need to wait for the price to close above 538. I think that temporary top may be in.