TATA MOTORS in channel

TATA MOTORS

• TATA MOTORS channel may present a long opportunity if it holds the channel bottom.
• Keep 665 as strict stop loss and go long. One can rise the stop loss a bit to the channel bottom line itself.
• A move at least till the middle of the channel can be expected.
• Stochastic has come to the oversold zone. as you can see in this screen the last 3 times the stochastic entered this oversold zone it has given a good bounce.
• One can also see a large deviation from the 20 SMA. So the price need to come back to the SMA before taking the next direction.(NOT A THUMB RULE BUT HAS SEEN IT HAPPEN BEFORE).  
• CAUTION: REMEMBER YOUR STOP LOSS THE CHANNEL BOTTOM LINE.

thank you