TATAMOTORS AN ANALYSIS

Tatamotors is at a Make or Break Juncture. As per the weekly charts, there are two possibilities -  either  breakout above 303 which would give a huge run-up targetting 320++ or breakdown below 276 to intially 260 levels.

DAY chart:

 

Hour chart:

 

10 DMA	20 DMA	50 DMA	100 DMA	200 DMA
293.86	291.26	292.91	289.23	289.94

All Moving Averages are converging and currently TM has closed below all averages. An EOD close above 293 would warrant an upmove.

Synopsis: Positionally Sell below 291.5-293  with SL EOD close above 293. If EOD close is above 293-294 then Stop and Reverse with SL 288 below 200 DMA.

NIFTY at interesting JUNCTURE !!!!

NIfty is poised at an interesting juncture. The Current Month low of 5760 is a Long Term Support and any break of the levels 5760-20 wouldlead to a heavy downfall. Holding 5760-5720 levels is very very important if any upmove is to take place. Few Charts:

MONTH LOG CHART:

The Chart is Self - explanatory.