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Tata motors elliott wave on hourly chartTata motors is expected to give a good entry to buy between 155 to 160.
Reason for 160 - 38 % retracement of wave iii
Reason for 155 - upper border of trend line giving a good support on previous occasions.
Expected target is above 190
why ?
Because of 38 % Projection
Disclaimer - i can be wrong !!!
Tata Motors Long @149.7Tata Motors Long @149.7 ,Stock has shown very good support at 149.1 to 152 previously, at current price
RSI is at 39, candle bars are small , so downside seems to be limited. OI on july expiry call side added at Rs 150
level so once it will come below Rs 150 but not expected to come below 145.
Target for short term are as follows. Buy Delivery mode.
Entry 149.7
Target 167.15
SL 144.1
Tata Motors | Bear FlagTata Motors, which has been already week on the back of Brexit and JLR performances has traded along a bearish Price action recently. Apparently we could observe a Bear Flag pattern which suggests a very deep drop in price. According to the pattern the stock is set to fall to 125 and that is a big 25% fall. Noticeable supports are at 160 and 152.
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