Tata Motors & Sail- Intraday Trading Picks for 8th February Trade 5/5 (1)

Intraday Tips

(1) Tata Motors:

The stock has been trading with a Negative bias since last many months. Every bounce back in this inherently weak counter is sold into. A recent bounce back has again reached to an overbought zone in momentum oscillator, RSI which may again put bears in forefront.

Trade Date- 8/02/2019

Intraday levels for the stock-

Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL <178.80 181.30 176.50 173

 

(2) Sail:

The stock has delivered a strong set of Q3 numbers post market hours, which may act as a trigger for Intraday buyers. The immediate resistance for the stock stands at 48.20 above which fresh longs may be initiated for intraday targets mentioned below.

Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY >48.20 47.50 49.20 50.30

*All levels mentioned are of cash segment.

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Author: Traders' Chowk

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