Tata Motors: Road Blocks ahead & strategy to deal with it

Tata Motors

Observations
- in my previous post, we highlighted the 280-285 zone to act as Support

https://in.tradingview.com/chart/TATAMOTORS/u3cnEHIH-Tata-Motors-Chart-set-up-trading-strategy/

and that is precisely from where we see Tata Motors bouncing back. Isn't it?

Levels identified in study on 07 July, works to perfection on 28 July 2021

- Going forward 306 / 316 / 322 may act as potential resistance zone

- on the lower side if 280-285 zone is taken out we may see potential doors opening for further fall up to 260 odd levels

Given the set up, one may consider selling Tata Motors 26 Aug expiry

330 Call Option between 3.5 - 5 (currently trading at 3.9)

At current price max profit potential Rs 11115/- per lot
More importantly, the strategy covers risk for a rise in price up to 333.90 till expiry day.

Take care & safe trading...!!!

Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be