spot_img
Tuesday, June 28, 2022
No menu items!
More
    spot_img
    HomeBusinessTata Motors (₹393): SELL

    Tata Motors (₹393): SELL

    -

    The short-term outlook for the stock of Tata Motors is bearish. It had tumbled 5 per cent on Thursday. Immediate resistances are at ₹400 and ₹407. The chances are high for the stock to remain below ₹400. In case of a break above ₹400, the upside can be capped at ₹407. A rise beyond ₹407 is unlikely at the moment. The 100-Day Moving Average (DMA) is on the verge of crossing below the 200-DMA, indicating a bearish signal.

    It also indicates that the upside can be capped in case of any intermediate bounce. As long as the stock trades below ₹407, the stock is likely fall to ₹360-₹350 in the next one-two weeks.

    Traders can go short at current levels and accumulate shorts on a rise at ₹398. Keep the stop-loss at ₹412 and trail the stop-loss to ₹388 as soon as it falls to ₹376. Move the stop-loss further down to ₹374 as soon as the stock touches ₹368 on the downside. Book profits at ₹362.

    The ₹360-₹350 region is a good support from where a bounce is possible.

    (Note: The recommendations are based on technical analysis. There is risk of loss in trading.)

    Published on June 17, 2022

    Related articles

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Stay Connected

    0FansLike
    0FollowersFollow
    3,367FollowersFollow
    0SubscribersSubscribe
    spot_img

    Latest posts