TATAMOTORS is also in a small break
out mode. It has closed at Rs. 415.65 /- and life time high is at Rs. 422.80
/-. As we mentioned earlier that when a chart enters into an
unchartered
territory,
it is senseless to predict the levels. Rather, it is rational to ride the rally
with a trailing Stop Loss. One can initiate
a long position on TATAMOTOTRS for
the target of new high i.e. above Rs. 422.80 /- and further up. Instead of
predicting higher targets, one can keep a Strict Stop Loss at Rs. 403 /- and trail
the Stop Loss up the position becomes favorable.
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