Buzzing stocks- TATAMOTORS heading for major resistance 539

Tata Motors Limited stock technical analysis 8th November Tata Motors Limited stock technical analysis 8th November Tata Motors Limited stock is trading at 536 with gain of almost 6%. Sock is top gainer in F&O segment as in nifty 50 index. Technically TATAMOTORS stock is in downtrend but taken support at 507 rupee level and moving towards major hurdle of 539. Stock below 539 remain weak and sell. Above 539 stock will change trend on bull side and will head towards swing targets of 567 and then 599. Daily chart price and indicators pattern suggest long view for stock and will achieved 567 to 599 targets in November series.   Sock future traders can hold long positions in TATAMOTORS future for target 539 and watch for breakout. Above 539 keep swing target at 567 and 599 with stop loss. Stock option traders can use TATAMOTORS 540 call options as buy on decline with stop loss for target 25 to 30. Today it rallied from low of 7 rupee to high above 18 rupees to premium.   TATAMOTORS weekly chart showing, stock seen strong supply from market around 565 level and correcting towards 422 rupee level. Watch 565 level on weekly closing basis if happens that will be long term breakout for target at 737.

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Pramod Baviskar

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