TATA Consumer P&F, C&H Pattern formations, targets
TATA Consumer might be in the last impulsive wave 5 (in blue), where it seems to be in wave (iii) (see wave in green) of wave 5.
Can see a P&F pattern formation (see pole in orange color) and with that target must be in between 1355-1404 range.
Also it will complete C&H pattern on 1256 and with that target will be around 1494, that could be end of impulsive wave 5 and then the stock might go in correction cycle.
For now it can be traded as per P&F pattern and if things goes well and it closes above current LTH(1256) then wave theory will be applicable for higher targets till 1494.
** This is not a trade advice, please do your own analysis before taking any trade and keep stop loss.
Can see a P&F pattern formation (see pole in orange color) and with that target must be in between 1355-1404 range.
Also it will complete C&H pattern on 1256 and with that target will be around 1494, that could be end of impulsive wave 5 and then the stock might go in correction cycle.
For now it can be traded as per P&F pattern and if things goes well and it closes above current LTH(1256) then wave theory will be applicable for higher targets till 1494.
** This is not a trade advice, please do your own analysis before taking any trade and keep stop loss.
Note
As predicted the stock is forming handle and if by end of this week it if manages to close above 1260 then if will give C&P breakout confirmation. That will open target up to 1480-1500 as drawn in in the post.
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