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.
Comment
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Tata Motors have started moving towards it's first target...
Trade active
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Tata Motors Long Term View is working fine...Latest High made at 132.65....Expecting more to go.....
Trade active
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Tata Motors made a new of 146.85...Slowly moving towards our target. Though a partial booking can be done here.
Comment
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Tata Motors made a new high of 187.35...Slowly and steadily moving towards the target.
Comment
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Tata Motors made a new high of 225.40...Slowly and steadily moving towards the Target.
Trade closed: target reached
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And finally the Target of Rs 250 is achieved today...
Trade closed: target reached
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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...
The analysis and the comments both of them are good.
It is a very good company and in my opinion, the time frame may be kept as 2-4 years for the price target of Rs 600. This is done keeping in my mind, the present scenario and scrappage policy expectations.
It is better that SIP mode is best for investment.
Prosenjit
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@Sunandamedi, Yes true....Buying in will be a good idea.
v26v26
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Thanks a lot sir . Your analysis came out correct . And the share is standing today at 600 . Any further upside possible. Kindly suggest
ravirajendran
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Friend current market trend none of the technical analysis will work its under panic selling i bet nifty will go upto 6500 then it takes another 1 year to recover and touch 10500.
Note: Only incase if scrap policy is out then there might be movement as per your trend analysis
Prosenjit
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@ravirajendran, Sorry but I beg to differ. Technical Analysis works in every condition. Institutions play the news contra. They short when there is a good news and they buy when there is a bad news. This is 132 years old concept and still holding it's ground.
You can check my Reliance Short Trade here, given on November 2019. At that time Reliance was at 1600 and I predicted it will come down to 1000. At that time all the good news where there. So that proves News is a small factor and Technical Analysis works.
Based on Technical Analysis I also have predicted this Nifty fall down. If you want to check all my analysis, then please feel free to visit my Facebook Page:
facebook.com/thetraptrader/
And don't forget to like, follow and share
bhumanoj2007
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Sir what will be stoploss for this long setup
Prosenjit
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@bhumanoj2007, Hi, this is more of an investment trade , so buying in Tranches will be a good idea. I will not prefer to keep a stoploss as of now. Rather I can wait for a PA entry, which will provide me a Small Stoploss and a big Reward.
It is a very good company and in my opinion, the time frame may be kept as 2-4 years for the price target of Rs 600. This is done keeping in my mind, the present scenario and scrappage policy expectations.
It is better that SIP mode is best for investment.