Description
⋅ Tata Motors- CMP 968
Volume- the huge volume is an indication of euphoria post which we always witness a sharp correction.
Elliott- the corrective pattern is zig zag. wave A and wave C have 1 and 1.618 relationship. The correction halted at 1.618.
Composite & RSI- At this imp support we have +ve divergence from composite where as RSI has failed here.
Conclusion- zig zag corrective pattern appears in stocks in strong bull trend. Hence this stock is a good buy here.