AbhishekHSinghCMT
Long

TataMotors - Returning back after 464 with Butterfly & Volumes

NSE:TATAMOTORS   TATA MOTORS LTD
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

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.

Trade active: 14:39 Hrs 2nd Aug2017

Last Price@441

Giving some hope for the ride.
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.
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.
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.
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.
Comment: 10:11 Hrs 3rd Aug2017

Typo error for using 300 figures -all figures in above update are in 400 levels.
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.
Comment: 12:35 Hrs 7th Aug2017

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

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.
Trade active: 09:45 Hrs 9th Aug2017

Last Price@423

Falls again from close to 430 high & hot at 423.50

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
http://in.tradingview.com
| LinkedIn
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.
Reply
amitahuja amitahuja
@amitahuja, sorry its 08/05/2017.
Reply
Sir where to long?
Reply
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.
Reply
SatyamMishra amitahuja
@amitahuja, sir with all due respect. I asked it from abhishek sir
Reply
amitahuja SatyamMishra
@SatyamMishra, With due respect ,my apologies. Nevertheless, if shorted u wud have earned good money.
Reply
@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.
Reply
Today Tatamotor's quarter result will come. Either during market hours or after market hours.
Reply
@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?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out