Intraday Trading Levels for Tata Motors (05/Jan/2011)


I faced some problems with my Airtel Broadband connection today. And it took them all this time to find the fault and rectify it. Hence, I could not enter the trading time frame as envisaged.

The support and resistance levels for today are still the same as listed yesterday. (The resistance levels are (R1)1304.70, (R2)1312.50, (R3)1320.30 and (R4)1328.15 and the support levels are (S1)1257.80, (S2)1250, (S3)1242.20 and (S4)1234.40)

If I were trading it, I could have shorted at R1 (1304.70) with a target of 1281.25 or 1289.

Anyway, lost the chance to enter the trade.

Tomorrow is yet another day, right? I hope the internet connection does not act up just as it did today.

Lesson Learnt: Always have a backup internet connection / alternate power sources (such as inverters) at home if you are into day trading.

Edit: The scrip touched the mentioned targets. On the other hand, I was looking at other scrips to trade in the meantime (since I already lost that opportunity to enter the market in the morning). Traded with Hindalco. Shorted at 249.00. Bought back at 246.00. The scrip was showing good potential to touch 249.00 once again but did not touch that point.

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