Cairn India

It is forming multi years top with Head & Shoulders pattern. Now it is making right shoulder in weekly chart. In daily chart it has given breakout by closing above 314 of 15 weeks Head & Shoulders - Bottom Pattern and 5 month Ascending triangle Pattern. Trade long with stop loss of 310 for target of 349-359.

ACC

It has been making Top with 14 months Head and Shoulders - Top pattern. And breakdown of 4 years trend line support. Neckline is at 1100. Pattern will be confirmed if it gives weekly closing below 1100. Target 850.

Tata Motors

Auto Sector in general is showing sign of weakness, because it has fantastic run since 2009. The next leg of Nifty fall will be due to auto and cement sectors stocks. Tata Motors is on the verge of breakdown if  close below 275. One can short on rise with stop loss of 310-315 for target of 255 and 205.