Why TATAMOTORS is trading down :
Today’s intraday trading stock recommendation is on TATAMOTORS, as the stock has broken below its 3 days support level of 820 so we are seeing huge selling in the tata motors stock. So near term trend for this stock will be bearish and we are trading in the direction of the trend, Hence we will look for selling opportunities as long as the stock is below 820 level. Intraday traders can go short sell in this stock near 812 levels for targets as 801 and then 793 levels, we also advice to place the stop loss near 819 levels. High risk traders can go short on TATAMOTORS August futures contract or buy TATAMOTORS august put options contract for intraday trading. Also today the stock is trading down by 4% and we expect more selling coming in this stock. Even there was jump in the open interest data as it added more than 10 lakh shares in open interest OI. Taking a look at the technical charts we see that the trend is more likely to be bearish for today, So this stock may attract more sellers on every pull back today, but below 813 the selling will be aggressive. The volume is also very high and increasing with constant selling. Technical indicators are also in favor of this trade, TATAMOTORS stock. We also advice investors to stay away from this stock, untill the direction is clear or the trend turns bullish again.