How to trade Tatamotors for week starting 30/05/2016

Bullish Possibility: 

In our earlier post on Tatamotors we mentioned:

Till tatamotors is below 416-431 and above 360-368 it is purely in consolidation zone for positional traders.

Now let's see where we are:

Tatamotors Daily Chart

 As can be seen from the above daily chart of Tatamotors we moved out of red falling trend channel but still within the green falling trend channel and for the last 1 month or so this stock has been moving in a small range of 404-376. This consolidation range is marked in grey in the chart. Hence until we are above this consolidation range no major bullish move possible. So aggressive traders can go long above 404 with a filter of 2 points as SAR.

Bearish Possibility: 

Bearish corrections possible till we are floating below 404. Hence hold any short positions with 404 as SAR with 2 points filter value.

 

Summary: 

1) Tatamotors SAR is at 404 hence go long in tatamotors above 404 with 2 points filter. 

 

Final Words: 

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Trade safe and keep checking this space for any further updates on developing resistances in between. Also check out our other publications on Nifty, Bank-nifty and other stock specific at the left hand column. You can also visit my masters (Ilango) blog for daily updates on Nifty. Happy Trading. As my mater says, Get Rich Slowly and Quietly. Cheers!!