TATA MOTORS P&F Pattern based targets

Jul 25

Tata motors has given breakout above flag and either 1488 or 1576 can be the final target as per pole height (drawn in green). Intermediate targets are mentioned as fib levels.

Monthly close above 1066 is important to sustain the breakout.

Elliot wave in green projects the possible moves but time might not match exactly when the peaks comes and exact end points of the waves but

"The high of wave 3 can be one of the fib level (near it is drawn) either of 1335, 1365, 1408.
Similarly wave 4 must be forming base near around fib level 1277, 1197.

Final target for wave 5 can 1488 or 1576.

Jul 26

Trade active

With weekly and monthly close above 1066 it becomes a buy on dip.

Jul 26

Note

Nice weekly close :)

Jul 30

Note

Going nice ! 1197 is the fib level on target, intermediate fib levels 1.272, 1.414 done.

* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade with applying your analysis and at your own risk.

Jul 31

Note

With monthly close above 1066, it is a buy above 1179 with hourly/daily close for higher or one can chose price action to enter the the stock, once it is moved to a new range then stop loss must be trailed.

* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade with applying your analysis and at your own risk.

Aug 7

Note

Back to the breakout line, it is important to remain above this line to consider this correction as a retest.