Tata Motors - Have fun with H&S up down ride 415-424-408

19th Jan2018

Last Price@416.15 - 12:20 Hrs

Let us enjoy up down ride with the running head & shoulder pattern having key resistance@429 & critical resistance@433 - Moving above 433 - downside ride will be a failure which is proposed as 2nd ride later.

Strategy
Take upside ride for 423 - 424 from current levels of 415-417 once it holds above 414 recent low & later look for resistance between 423-425 (1st zone) or above 425 between 426-428 (2nd zone) - Later plan to sell either in 1st/2nd zone with strict stops above 433 for 414 - 410 - 408 downside ride.

Effectively if you gain in upside ride 7-8 points & one can put stops above 433 & shall lose 10 points if planned for 2nd ride@423 which is in downside direction -losing 3 points in all (reduced 7 points upside gain from 10 points proposed downside risk in 2nd ride) or gaining 15 - 25 points in (upside + downside ride -both rides).

Upside ride - 416 to 423-424

Downside ride - 423-425 for 414-410-408 / 426-428 for 414-410-408 ( If faces resistance in 1st zone / faces resistance in 2nd zone)

Risk to Reward shall be 5.00 - (3 points to lose & 15 points to gain minimum)

Trade active:

15:29 Hrs 19th Jan2018

Last Price@418.20

Booking partial profits before weekend- no open positions.

Trade active:

10:13 Hrs 22nd Jan2018

Last Price@421.10

Vasant Panchami - An Auspicious day!

Opened at 419 & touched the target zone of 423-424 -in the first session of auspicious day of Vasant Panchami making high of 423.50

Trade active:

13:21 Hrs 22nd Jan2018

Last Price@422

Got resistance in 423-425 zone (1st zone) as suggested after completing upside ride from 415-417 zone on 19th Jan2018 - we booked partial profit on 19th Jan2018 & opened at 419 -travelled to 423-425 as expected.

We are in downside ride -holding below 425 -TM looks weak for 414-410-408 target which could be achieved in 1-2 days time frame.

Have a lovely downside ride. Cheers!!!

Trade active:

08:41 Hrs 23rd Jan2018

Last Price@422

Moving above 425- we will avoid taking sell call / short position as table can turn upside down & we may see zoom movement - above 428 for 443 - above 443 for 468 & above 470 for 550-600 levels.

Have a nice trading session.

Trade active:

08:54 Hrs 23rd Jan2018

Last Price@422

I have been waiting for the zoom movement since 4-5 months which can become history soon & people start talking why did TM moved upside amazing.

In Traditional Analysis we call this wedge structure which has zoom effect if correctly identified.

So any movement above 425 - No sell positions -Moving above 428 - can push to 443 & above 443 for 468- Above 470 for 550-600 levels & even higher beyond 600 mark.

Enjoy the upcoming session

Trade active:

09:16 Hrs 23rd Jan2018

Last Price@420

Do not get confused with the movements below 425 -we are in short /sell position - only above 425 -we are for more upside as suggested above.

Downside Intraday targets are 414-410-407 as mentioned in the main update.

Trade active:

10:13 Hrs 23rd Jan2018

Last Price@418.70

Minor Support at 417 -turns above 417.30 - small bounce if holds below 425 then slips back to 414-410-407 Next below 417 or sell on bounce but below 425 highs

Trade active:

12:20 Hrs 23rd Jan2018

Last Price@420

Recent High@420.50 - Small bounce above 417.30 levels - Ready for the downside ready - Tighten your seat belts

Below 417-417.50 - We will put in 3rd gear for 414-410-407

Trade closed manually:

12:24 Hrs 9th Feb2018

Closed -----------------------Bye --------------------------------------Closed

Last Price@369

It was awesome journey in Head & Shoulder as well right from @420's.