TataMotors - Returning back after 464 with Butterfly & Volumes

Tata Motors - Last time I left at 464 & returning back again with bullish butterfly which is with volumes happening in 440-445 Zone. Some accumulation is going on in the pattern.

Trading Plan
Moving above 452.50 gives us 1st clue & later moving above 455-456 zone can confirm even further that Tamo wants to move upside.

Volumes happening in the zone 440-445 hints that some accumulation is happening in Tamo.

Once 455-456 zone is surpassed we would continue looking upside for 510-550-600 beyond targets for Tamo.

Manage your risk to become winner in the market.

Previous Update - Tamo long term analysis
Aug 02
Trade active: 14:23 Hrs 2nd Aug2017

Last Price@440.50

Day Low@439

Day low coincides with butterfly lower range extension at 161.8% of XA leg which falls at 439.

We will start searching for reversal in this area if it holds above 440 then it can be early turn on upside for targets 452 - 456- 464+ later
But we need to see some market interest here in the zone 439-440 for possible upside next. Do not hurry up in trade as this could be a nice trade in Tamo next.

Aug 02
Trade active: 14:39 Hrs 2nd Aug2017

Last Price@441

Giving some hope for the ride.
Aug 02
Trade active: 08:00 Hrs 3rd Aug2017

Last Price@440

440-442 is the psychological zone - It is very important that Tamo should cross & hold above 440-442 zone for an expected upside move.
Do not get emotional attachment with stocks & never be hestitant in dumping your position if it fails to cross or hold the zone mentioned.
Our Trigger comes at 452.50 & above - we are rushing into trade in 439-440 which is early entry so we need to be little careful.
Aug 02
Trade active: 09:38 Hrs 3rd Aug2017

Last Price@440

In the zone 440-442 - I will love if it stays in the zone starts moving upside.
Aug 02
Trade active: 09:54 Hrs 3rd Aug2017

Last Price@439.50

Indeed it is struggling to cross 440-442 zone - Those who have taken long exit close by levels of 440 & hold for next update.
Aug 02
Trade active: 10:08 Hrs 3rd Aug2017

Last Price@437

Down by 3 points - near by zone of 335-337 is important zone which should provide support else going below 435 -can be sharp down
But I will rather wait outside now.
Aug 02
Comment: 10:11 Hrs 3rd Aug2017

Typo error for using 300 figures -all figures in above update are in 400 levels.
Aug 03
Comment: 14:06 Hrs 3rd Aug2017

Last Price@432.70

Day Low@430's

We have no long positions as we exited close to 440 levels & suggested that if 435 breaks it can fall sharp down - which Tamo did below 435.
Aug 07
Comment: 12:35 Hrs 7th Aug2017

Wow! what a fall below 440 The key level--- Day high@439.80 - Turns down for 425.

Aug 08
Trade active: 08:40 Hrs 9th Aug2017

Last Price@430

Structure is weak -likely bulls to come back above 440 as I have been stating in the post update above.

Tamo had a fall twice from 440-441 zone in last 2-4 days so when this hurdle is crossed then we will check for strength.
Aug 08
Trade active: 09:45 Hrs 9th Aug2017

Last Price@423

Falls again from close to 430 high & hot at 423.50

Aug 09
Trade closed manually: 10:58 Hrs 9th Aug2017

Last Price@423

This time we traded failure of harmonic pattern.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ


Little Insight... On 2/15/17-- TM made a low of 434.35 and reversed. After around 90 days i.e on 05/08/17 made a low of 417.25 and reversed. Today is 09/08/2017, around 90 days.. made a low of 415 and looking for reversal.
amitahuja amitahuja
@amitahuja, sorry its 08/05/2017.
Sir where to long?
amitahuja SatyamMishra
@SatyamMishra, Go long above todays high if u are so keen to or go short at market price and put todays high as sl.
SatyamMishra amitahuja
@amitahuja, sir with all due respect. I asked it from abhishek sir
amitahuja SatyamMishra
@SatyamMishra, With due respect ,my apologies. Nevertheless, if shorted u wud have earned good money.
@SatyamMishra, No confirmation yet. It seems it will be nice if we don't try to catch the bottom but once it moves above 440 -that will show its way upside or we check again at 405-410 zone.
Today Tatamotor's quarter result will come. Either during market hours or after market hours.
@AbhishekHSinghCMT : Sir, is it good time to enter Tata Motors for long position or shall we wait for some more time to get clear confirmation for long position? What is your view?
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