Tata Motor - Elliott wave analysis # complete cycle

Final rally is pending before get in to deep down-trend.

Wave 5 of C (up-side) projection:

First target : 361
Second target : 405
Third target : 450

Invalidate level : 288
Comment: Keep invalidate level 288 as closing basis


Comment removed.
vks1616 honey_nainwani
@honey_nainwani, Even I am confused with this.
+1 Reply
@vks1616, There are many stocks where wave development is only in corrective patterns. It is not necessary that always wave development starts with impulse.
+1 Reply
vks1616 dhinesh_kumar
@dhinesh_kumar, Can you please elaborate. I am planning to invest in Tata Motor. From the chart pattern you explained seems a long time before company can come back. Rj also sold 150 CR worth of stock and performance is not good for short term.
Yes the longer term horizon is superb.
@vks1616, I don't know about fundamental. But as per me based on EW, looks very weak for long-term. For short-term it can touch 360 level. Second and third targets are less possibility. After then there should be some corrections (even if this wave marking is not correct) and it can come below 200 level.

Also Nifty is going to enter in to corrective phase within 2-4 months and probability for 40-60% fall and may take approx. 2 years.
vks1616 dhinesh_kumar
@dhinesh_kumar, thanks. Will keep a watch on this. Your thoughts will surely help me.
dhinesh_kumar honey_nainwani
@honey_nainwani, Mind your language. If you can, give me better wave count.
Is it Invalid Now?