stocksinboxx

TATAMOTORS.......SHORT ???

Short
NSE:TATAMOTORS   TATA MOTORS LTD.
6
TATA MOTORS HAS CLOSED BELOW THE IMPORTANT SUPPORT ZONE ON THE DAILY BASIS. IF IT OPENS LOWER ON MONDAY...THE IMMEDIATE TARGET SHOULD BE AROUND 403 & THE FINAL TARGET WOULD BE AROUND 371. ALL SAID AND DONE IF YOU WERE A PROFESSIONAL TRADER...YOU WOULD HAVE IDEALLY SHORTED AT THE 38.2 % FIB LEVEL WHEN IT FAILED TO BREAK 480 FOR MANY DAYS . SHORTING AT THE LOWS IS OFTEN RISKY....BECAUSE THE STOPLOSS LEVEL (465) IS VERY FAR. I WOULD RATHER WAIT FOR A RETEST OF THE SUPPORT ZONE OR THE DOWNWARD TREND LINE TO INITIATE A SHORT. THIS IS JUST MY VIEW.....YOU ARE FREE TO COMMENT.

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