From the above chart of TATA MOTORS, we can clearly see that it has rallied a lot(18%) in the August series. On Thursday, which was the last trading day of the August series, a shooting star Candlestick chart pattern was formed. STOCHRSI, and RSI are both indicating the share is heavily overbought by investors. Hence, I would recommend going short on TATA MOTORS September Futures contract @ 527 with a targets of 500, 480, 460, 440 or buying 530 SEPTEMBER STRIKE PUT @ Rs. 15 with a target of 30 ,SL:540 on spot.
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