Wednesday, November 05, 2008

Old short tatapower

Short tatapower again. It hit the final target of 520 ish last time on the way down.
Now Tatapower has res at 777-800, sl 800/820/864. Bearish trend on eod ends only on a close above 864, basically its not gonna happen anytime soon. So I suspect its time to sell this rally.
short for 724-699-687-656-640-625
If 525 old low breaks tatapower could test 480-430 region, but that will probably only happen in a panicky market and no real signs of that yet.
U.S Market is already down so tomorrow will be a gap down. I actually gave the short call on tatapower and rel today intraday around 760 but you can play your own levels.

No comments: