Considering the current scenario and at CMP of 67.95 TATAMOTORS is looking very weak in all parameters. However, on 5 min HA Charts the price action have formed a doji and a small halt in the fall can be seen. In my personal opinion TATAMOTORS is in no trade zone (for positional traders).
Taking short position is advised to consider if price sustaining below 63.85 on 5min as well as hourly charts for the target of 60.55 followed by 54.35 and 49.75.
Long position should be considered only and only if TATAMOTORS is sustaining above 72.25 on 5mins charts for the target of 76.55 followed by 81.45 and 86.15.
Will share the trade idea for all segments (FnO and Cash) in TATAMOTORS at request only.
p.s. –. Trading in current markets is very risky due to uncertainty and volatility in the market but will trade as per my given levels only. Please trade as per your comfort and risk. These levels have derived by analyzing Options data and spot price movement.