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Tata Motors : Follow-up TATA Motors : Follow up on last study shared on 3rd May.
- Filtered from strategy#1
- Near Major Resistance
- Above 351.3 only.
- Support given on chart
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
Tata Motors on crucial supportTata Motors is looking to take support at 20 Weekly EMA. Has taken support and rallied earlier from 20 W EMA earlier. Looking to add at current price and will exit if 2 daily close below this EMA
This is not a buy / sell recommendation but sharing for educational purpose
Tata Motors Gearing Up for Impulse Wave 5 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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Tata Motors- Preparing Cup& handle breakout-21% move expectedTata Motors after triangle breakout formed CUP and preparing handle , expected to breakout from zone of 340~355 .
If breakout successful with good volume above 355 and expected to give 21% move for the target 430~445, SL-335 for short term trader.
in case of breakout fail, it may retrace up to demand zone 323~330, in that case SL -320.
Those who followed triangle breakout and entry taken at demand zone 300~310 , hold for target 430~445, trail SL to 335 or 320 in case want to hold long.
Tata Motors : Strong Pull BackTata motors looks good for positional trade. The stock has broken it's Descending Triangle Pattern and gave a breakout. If it crosses the resistance zone that is between 337 to 342, we can expect a good upward movement in this stock.
Please feel free to share your valuable feedback :)