Tata Motors has formed a area gap down on 16/04/2018.
The script is in the side ways trend. Open of 16/04/2018 is 350.80.
Close of previous trading day is Rs. 357.10.
The area gap is formed with huge volume. Normally the area gap are with low volume and they get filled with in few days, but this area gap was with high volume and is not filled even after 11 days. Candle of the 02/03/2018 is a bearish engulfing candle whose high is at the resistance of the gap down candle of 16/04/2018 and it is formed with increased volume indicating the strong bearishness. short position to be created for the target of Rs. 326 [recent swing low]
