TATA MOTORS LTDLong
A Price Action based Technical Analysis on Tata Motors
Updated
Investors can start to accumulate Tata Motors from now on with every dip. Current market price is 77.95 and nearest Trap Zone is at 64.50.
There is a Bullish Channel and a Wolfe formed in it. Ideally it should take the price up to All Time High.
As per Harmonics, a Pattern which is close to Bullish Bat is getting created in the Chart. This should send the price up as well.
For Price Action Traders and Demand & Supply Traders, the Levels or Zones are not good, so they can try a Confirmation Entry. This is infact, a little draw back for this setup.
A Long Trade is suggested. But before price goes up, it will definitely try to stop out the Retail Traders and Demand & Supply Traders. That is the way they love to change the Trend.
A Price Action Trader will wait for a PA signal to get into this Trade.
Short Term Target will be approx 250 to 300 and Long Term Target should be beyond 600.
Disclaimer: The Waves drawn are imaginary and hence the real waves might be little different. This is not a suggestion for trading. If you wish to trade, you can at your own Risk. This is for learning purpose only. Prosenjit Ghosh holds no responsibility for any loss occurring to you by trading this setup.
This complete analysis is based on Technical Analysis.
There is a Bullish Channel and a Wolfe formed in it. Ideally it should take the price up to All Time High.
As per Harmonics, a Pattern which is close to Bullish Bat is getting created in the Chart. This should send the price up as well.
For Price Action Traders and Demand & Supply Traders, the Levels or Zones are not good, so they can try a Confirmation Entry. This is infact, a little draw back for this setup.
A Long Trade is suggested. But before price goes up, it will definitely try to stop out the Retail Traders and Demand & Supply Traders. That is the way they love to change the Trend.
A Price Action Trader will wait for a PA signal to get into this Trade.
Short Term Target will be approx 250 to 300 and Long Term Target should be beyond 600.
Disclaimer: The Waves drawn are imaginary and hence the real waves might be little different. This is not a suggestion for trading. If you wish to trade, you can at your own Risk. This is for learning purpose only. Prosenjit Ghosh holds no responsibility for any loss occurring to you by trading this setup.
This complete analysis is based on Technical Analysis.
Note
Tata Motors have started moving towards it's first target...Trade active
Tata Motors Long Term View is working fine...Latest High made at 132.65....Expecting more to go.....Trade active
Tata Motors made a new of 146.85...Slowly moving towards our target. Though a partial booking can be done here.Note
Tata Motors made a new high of 187.35...Slowly and steadily moving towards the target.Note
Tata Motors made a new high of 225.40...Slowly and steadily moving towards the Target.Trade closed: target reached
And finally the Target of Rs 250 is achieved today...Trade closed: target reached
The Long-Term Target for this trade of 600 has been achieved today.From 64.50 to 602.30, this is a staggering achievement of 833.80% in just 3 Years, 3 Months, and 18 Days.
When I gave this trade, #tatamotors was running in a Down Trend. Now it has achieved an All-Time High price as predicted in my chart.
Though this is not the end of this Rally, I strongly believe it is going for 1000 but that Idea I will post later...
Disclaimer
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