Shares Of Tata Motors Ltd Languid Before Q1 2016 Earnings

According to data from FINRA yesterday, total short interest in Tata Motors Ltd (TTM) fell to 1.59% in May 2016, equivalent to 7.25M shares, 1.52% lower than the previous report. After that, the company’s stocks inched down slightly with about 344,967 shares changing hands. On next Monday, Tata Motors Ltd. is scheduled to release its financial results for the first quarter of 2016. For the last 12 months, the firm’s initial earnings (including tax, interest, depreciation and amortization) are estimated to come in at $3.62 billion. On the hourly chart, TTM has been stuck in a narrow range, moving around the 29.73 for several hours. The RSI (14) is currently falling, indicating that the bull is weakening.

Trade suggestion

Sell stop at 29.63, Stop loss at 29.74, Take profit at 29.51

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