Stock Update [TATAMOTORS]

Tata Motors is balancing at the very top of a multi month trading bracket. Now whether this is absorption or exhaustion, will be clear once we get some follow through.

But a BO may take TML to 510-15 odd levels. Where as a BD has lower levels marked on the charts. The next HVN to the downside is around 450 levels. Thats what the daily chart tells us.

On the 15 min chart we can see auction trying to probe 479-80 levels. A break and acceptance below this level may target 472 and subsequently 466 in the short term. Finding support at this level will send prices to test 486, above which we may test the 490-95 levels.

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