What a ride from 415 to 423-425 & moving in the triangular cave - Tighten your seat belts for 414-410-407
Previous Update - Have Fun with H&S -Up Down Ride 415 -425 & Down (Larger Update mentioned in between as weekly chart)
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13:17 Hrs 23rd Jan2018
Last Price@417.85
Halting at 417.60 from 420.50 - Below 417 - Tighten your seat belt. Have a nice trading session. Take care!
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13:55 Hrs 23rd Jan2018
Last Price@416
Close to 1st target @414 - Turns upside from 414.75
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14:33 Hrs 23rd Jan2018
Last Price@417
One needs to react fast. TM has taken support close to 414 which was our 1st target @414.75
So moving next below 414.75 only it drops further else can bounce & going above 420.50 this fall ends which will push TM upside.
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14:39 Hrs 23rd Jan2018
Last Price@417
You need to put strict stop loss above 420.50 as per cash data & we look downside for 414- 410 -407 but careful not above 420.50 -Spot data. Thanks
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Last Price@418.15
At 418.35 -The fall from 420.50 to 414.75 is retraced 61.8% levels which is key Fibonacci level & can be important short term resistance zone between 418-418.50 , Once it starts falling below 418 - we will plan to sell with stops above 420.50
Have a nice day ahead.
Trade closed: target reached
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10:24 Hrs 24th Jan2018
Last Price@407.50
Final target done@407.10 - One of the picture which goes into 2018 Diary - Hot Trade from 420 to 407.
Taking Support of Neckline can be buying opportunity for a small term bounce as break of neckline below 407 can put Tamo in more pressure.
Buying from 407 keeping stops below 407 for short term bounce or selling below 407 which is at neckline is next trading strategy.
Abhishek sir .. This was a too good Trade .. saw ur chart and entered and 419.95... and next ten minutes it went.boom as you had posted in charts ..superb.. in fact I.closed my short at 416. should have waited for 415 .. but no compaints just superb analysis Sir
WaveTalks
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@Hulk703, You are talking about yesterday when it opened at 419 levels & went to 423-425.
Hulk703
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@AbhishekHSinghCMT, Sir I did this short today morning after u posted tata motors head and shoulders update ..
I missed to sell near 421/but managed to sell near 419.95 and den covered it in next ten minutes ... bcos after that it went up to 418 by EOD ...
Hoping for another trade like this tomorrow
Your charts give the confidence to pick the right levels .You make trading for retail individual like us easier otherwise we would be stuck at wrong levels :)