The counter has been in a downtrend for the last four months.
It has been hammered brutally by the bears without mercy from 600 levels.
Just a couple of sessions ago it formed a Pin Bar on a daily chart and showed smart recover from the swing low around 434 mark.
Today the counter formed a beautiful Doji Candlestick pattern and just managed to close above the swing low mentioned earlier.
This naked price action suggest that the supply might have got exhausted at least temporarily and bounce back can be expected in a near term. So risky ride of Tata Motor can be tried.
Swing traders can go long on the counter for short term perspective around 435-439 with SL of 425 TGT 452-455.
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