Tata Motors DVR : Fibonacci 50 % Resistance

Based on Principles of Fibonacci Retracement and Extensions.

Period :Medium Term
Trend:Down Trend
Start Period and Price : 261.50 / 06-Nov-17
End Period and Price: 217.75 / 18-Dec-17

Based on Fib 50 % Retrenchment

Based on Fib 50 % Retrenchment at Resistance level

Entry : 240 (+/-)2
Stop loss : 248.50 (Strict)
Target 1 : 222 ( Also Use this price to tighten Stop)
Target 2 : 217

Reward to Risk Ratio : 2.1:1
Dec 25
Trade active: @239 Trade Active
SL : 248.50
Jan 01
Trade active
Jan 02
Trade closed: stop reached
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