Tata Motors recently completed a significant ABC correction, with Wace C finishing during the market crash on election result day. A new impulse wave seems to be underway in the stock, where minor wave 4 ended with a flat correction. This sets up a potential intraday trading opportunity with a favorable risk to reward ratio. The chart indicates entry point, stop loss, target, and wave counts. It is advised to close the position before the market closes, without any intention of carrying the trade forward. Furthermore, as we near the options expiration for the month, it is suggested to avoid trading in stock options due to the physical delivery of stocks.
Disclaimer: Please note that the information presented in this analysis is intended for educational purposes only. It is highly recommended to seek advice from a financial advisor before making any investment decisions. I cannot be held accountable for any financial losses that may arise
Disclaimer: Please note that the information presented in this analysis is intended for educational purposes only. It is highly recommended to seek advice from a financial advisor before making any investment decisions. I cannot be held accountable for any financial losses that may arise
Comment:
The stock continued to consolidate throughout the day following an initial upward movement. We will assess the possibility of entering into a new trade in the upcoming week. I will keep you posted