Short Opportunity in Tata Motors for intraday

# Tata Motors is forming a head and shoulder pattern in an ascending triangle after a fall from 360 levels recently on a 15 min chart. This is a bearish Signal and one should look at short opportunities.

# The rising trend line of the ascending triangle can be used to short. If it breaks below 337 after a while on Monday first target will be 334 and second target will be 329. Stop loss for the trade can be kept at 339.10

# There is a high likelihood of meeting second target once the first target is reached. Book gains on 25% of the position on first target and move the stop to 338.1 and ride the residual 75% quantity for an eventual target of 329.

# This is an intraday strategy and one should not take this trade overnight due to overnight risk and small SL/tgts. Close the position by 3:15 if target or SL is not hit. One can again re-enter next day again if there is still room for the target as a kind of continuation from yesterday.