Tata Motors - 6/28/2016

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Tata group's flagship companies are in cross hair because of its UK connections. Tata Steel is the example of ambitious plan going awry and Tata Motors is going to be questioned because of its Land Rover automobiles.

Tata Motors
It's a headache to deal with unexpected situations for a company like Tata Motors which has big aspirations and determined to create a global brand. A car named Zica and Lionel Messi's sudden retirement announcement along with Brexit is going to give constant sleepless nights for executives.
Technically Tata Moror's playbook is very clear. Resistance band between 475 - 525 and good support level near 275 from where it has bounced back twice. 425 is immediate support but such nearby levels doesn't count during the think of the things. Picture is less clear from this point but not to buy from here is the obvious case. Buying puts on the bounce or selling covered call is the preferably good strategy.
Here is what we said about Tata Motors in 2014 ! -
You can check out TCS             and Dabur             posts and see how finding a good tech level and trading along that level works like a charm. For Dabur             , today we have covered 2/3 position ( in puts ) and will wait for how it behaves in coming sessions. For TCS             , we still favour rally selling via puts or selling covered calls.
Other than that, Idea Cellular is not doing much and still clinging to 100 level.
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