Tata Motors Multi-Time frame analysis
Today, we are going to discuss Tata Motors. I am seeing the huge potential for this stock. This could give more than 100% growth initially in the next bull run.
Multi-Time Frame analysis:--
(MONTHLY)
-trading in range
-every time it comes to the channel bottom boundary, buyers come in & every time it touches the channel upper boundary the sellers come in.
-this trend started in 2001 & got stuck in this by this day also.
-trend on the monthly time frame is still UP & currently, we are consolidating somewhere in between this up trend.
(WEEKLY & DAILY)
-now on weekly TF, if we draw a trend line (TL) connecting the lower high (LH) starting from February 2015, we have got our set up!!
-considering the up move started in 2020 we have also seen a good volume on uptrend and in consolidation, we have also seen below-average volume, which indicates a healthy up move in progress.
(ELLIOTT WAVE ANALYSIS)
-it looks like currently we are in wave 4 of an impulse, where wave 4 is still in construction.
-wave 1 has been completed @ approx 155, wave 2 got completed @ 122 level, and wave 3 was closed in extended mode @ 526 level.
-wave 4 is still in construction, and could close somewhere at 38% - 50% levels.
(WHEN TO BUY ?)
We will try to find a buying opportunity whenever this stock gives TL breakout with a good or more than an average volume.
Multi-Time Frame analysis:--
(MONTHLY)
-trading in range
-every time it comes to the channel bottom boundary, buyers come in & every time it touches the channel upper boundary the sellers come in.
-this trend started in 2001 & got stuck in this by this day also.
-trend on the monthly time frame is still UP & currently, we are consolidating somewhere in between this up trend.
(WEEKLY & DAILY)
-now on weekly TF, if we draw a trend line (TL) connecting the lower high (LH) starting from February 2015, we have got our set up!!
-considering the up move started in 2020 we have also seen a good volume on uptrend and in consolidation, we have also seen below-average volume, which indicates a healthy up move in progress.
(ELLIOTT WAVE ANALYSIS)
-it looks like currently we are in wave 4 of an impulse, where wave 4 is still in construction.
-wave 1 has been completed @ approx 155, wave 2 got completed @ 122 level, and wave 3 was closed in extended mode @ 526 level.
-wave 4 is still in construction, and could close somewhere at 38% - 50% levels.
(WHEN TO BUY ?)
We will try to find a buying opportunity whenever this stock gives TL breakout with a good or more than an average volume.
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