Nifty like a baby learning to walk, tried to find a fair value. As a result, day traders had a field day playing along both sides.
Tomorrow we could witness a range contraction in the range of 4280 - 4530.
In such a case,one could use a simple stochastics crossover in 30 minute chart for trading nifty tomorrow.
Looking Good - Tata Motors
Tata motors, although closed in the minus, took support at the lower end of the channel (see chart).
For wednesday trading
1) In case of gap down buy tatamotors at 293 with stoploss at 282 for targets 319, 335, 360
2) Buy Tatamotors crossing 322 at retracement level of 315 with stoploss at 304 for targets 335, 360.
