Go long around 51 with 50 as stop loss for a target of 54. The trade is on the assumption that the trend line will give support. If nifty breaks down below 5160 this trend line will not give support to IFCI. So keep this trend line as stop loss.
since the stock is trading near the trend line the risk reward ratio is good. But remember the trend line should give support if it break then one should exit long or can go short.
TATAMOTOR is trading near october 2007 high price 844. this can act as a resistance if it is not crossed during next week. A close above this on a daily basis will give the stock a good upward momentum.
TATAMOTOR has broken out of a daily triangle. Target for the triangle break out is at least 200 points. But stock should close above 844 region convincingly for it to move up faster.
keep 816 as stop loss for your long positions.
investors can also look at the monthly channel for stop loss.
NIFTY WEEK selling stopped at 5160 and went up to 5304 closed above 5300.
NIFTY has broken the weekly trend line last week. So it should come down to the channel bottom. Before going to the bottom line nifty may retest the trend line or channel top. In that case we will see 5400 and higher. But since there is a trend line break chances of nifty coming down to the channel bottom is higher so keep stop loss at 5200.
I present to you the triangles of TATA MOTORS. The previous one gave a near 300 point rally. The one that is developing now can give bigger results. An upside break out can expand the stock to a range of 800 to 1100. Break out on the lower side can bring the stock down to 600 levels
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