We are close to finish the 1st leg of Tata Motors from 375 Bottoms to 438 Highs with update mentioned below & likely to have head & shoulder formation @438 highs - head.
Once TM holds on upside in 434-436 range & starts falling below 430 that will activate the down movement for TM which is break of neckline at 430-431 zone.
When to execute
Going below 430- Neckline activates the call for downside target & with stops of recent high after breaking below 430- Neckline.
423-425 Zone & Below 423 for 410
Aug 2017 Update - 360-370 Zone
Result of the Update -
Explosive Move from 370-375 as that zone was holded for almost 2 months Aug-Sep 2017 - Pushed upside above 400 & finally made 438 high@17th Oct2017
1st Pushed from 431.50 to 434 - Exact shown next to right shoulder & started falling - Awesome.
Holding 430 downside we can get one more push to 434-436 zone but it should not cross above 438 -Head high level.
TM is making 2nd attempt to reach 434 highs on upside - short term 2-3 points gain by having buy from 430-431 base.
Sell call activates only below 430 as suggested above.
Sell call activated below 430 - Look it turned exactly from 434 which I have been talking in yesterday's session.
Stops above 434 or sell on bounce or below 428 for next session.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ