TATA TECH WEEKLY INCOME SHORT TRADE

The stock is in a downtrend on the monthly / Weekly time frame. the level identified has been responsible for making a new low in the stock. since there is a level on top of level scenario a strict stop loss is recommended. but i prefer to take the stop loss on a closing basis. which means since the trade is on 125 mins time frame it is better to allow the 125 mins candle to close outside the zone, and then take the hit, however in case the 1st level gets stopped out i would recommend to take the same trade again on the upper level which will then become an ever higher probability.

There is also a long trade planned around 602 levels (which is the origin of the move for this stock and there is a pro gap as well which is a trend change point for this stock. and the level also lines up with an all time low for this stock. a very high probable long trade as per me.

lets see how both the short and the long trade plays out in days to come. happy trading.