Tata Motors after Mar 2020 low 63 moved up by making wave 1 as leading diagonal
Next sub impulse wave (1) and (3) were normal waves without extension.
So (5) was explosive up raising 300% or wave (1)+(3) at 357.
After 357 high it retraced very small portion 0.232 Fibonacci level or 23% which is common in case of wave extended wave.
It appears to be making cup and handle pattern which could reach well towards 0.618 Fibonacci zones.
This rise from 280-360 is also observed to be leading diagonal
Minimum target of Wave 5 will be 0.618 of wave 1+3 combined which is 460
Long near 325-310 zone, with Stop loss 380, target 1 460, target 2 570
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
Not recommended to take FnO positions based on this analysis
I may or may not trade this analysis. Details in description.
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Next sub impulse wave (1) and (3) were normal waves without extension.
So (5) was explosive up raising 300% or wave (1)+(3) at 357.
After 357 high it retraced very small portion 0.232 Fibonacci level or 23% which is common in case of wave extended wave.
It appears to be making cup and handle pattern which could reach well towards 0.618 Fibonacci zones.
This rise from 280-360 is also observed to be leading diagonal
Minimum target of Wave 5 will be 0.618 of wave 1+3 combined which is 460
Long near 325-310 zone, with Stop loss 380, target 1 460, target 2 570
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
Not recommended to take FnO positions based on this analysis
I may or may not trade this analysis. Details in description.
-------(((((Please LIKE or Comment)))))-------
