TATA MOTORS Analysis

• Tata motors has clearly broken its weekly uptrend line. 
• Price is about to complete 50% retrace in weekly chart.
• Weekly charts are looking oversold.
• Daily chart is starting to develop positive divergence
• We might see another dip towards 750 - 760 levels before price starts to move up again.
• Best way to play positive divergence after a big down move is to confirm with a close above 5 day high ema.
• Stock is in a strong down trend so stay short while it closes below 5 day low EMA. 
• Longs are possible only on a close above 5 day high EMA.
• S&P 500 ANALYSIS AFTER CLOSING BELL