TATA MOTORS - A MUST BUY IN THE PORTFOLIO BELOW 164

WAVE 1 - 24 POINTS
WAVE 3 - 18 POINTS

If wave 3 is 18 points ; then wave 5 of ending diagonal has to be shorter than 18 points

Previous low of TATA MOTORS is 164.

if we deduct 18 points from the current price of 178 , then it comes to 160

Hence i conclude that anything below 164 is a must buy in Tata motors .

Even otherwise intrinsic value of tata motors is 264 which is the fair price
So at the current price , it is highly under-valued and an upmove is shortly expected

All wave counts are work in progress & are meant to aid trading
I use Elliott wave count to help in my trading &i am willing to accept i could be wrong
& knowing before hand what i will do when i am proved wrong...

The only thing that are guaranteed in life are Death & taxes....... (Benjamin Franklin)

Comment:

a lot of thought is gone into this trading idea . it will help if others comment on this stock and how you feel about the entry ...

Constructive criticism welcome !!!