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Stock calls by Nilesh Jain of Anand Rathi: Sell Tata Motors, Bajaj Finserv

Tata Motors' stock has provided breakdown from a head and shoulder pattern on the daily chart

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Bajaj Finserv's stock has formed a double-top pattern on the daily chart

Nilesh Jain Mumbai
SELL NIFTY | TARGET: 11,050 | STOP LOSS: 11,230

The Nifty index is facing stiff resistance around 11,200 and finding it difficult to sustain above the same for the past couple of sessions. The momentum indicators and oscillators have reached overbought territory on the daily chart which hints at some distribution at higher levels. On the derivative front, call writers are shifting their positions towards 11,200 strikes which will act an immediate resistance. Thus, aggressive traders can initiate a short position with a strict stop loss of 11,230.

SELL TATA MOTORS | TARGET: Rs 97 | STOP LOSS: Rs 105

The stock has

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First Published: Jul 28 2020 | 7:52 AM IST

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