TATA motors has given me the most wonderful and joyful years of my life between 2008 and 2015
However the present situation looks shaky & one more dip below 150 is expected
But i guess if we reach 130 , it is a great buying opportunity
so they say
"“We are all in the gutter, but some of us are looking at the stars.”
Expecting a fall to 120-130 zone. This zone will act as a barrier band. Expect reversal from 120-130 levels. If it breaks this band of 120-130, we can see 100 levels. But there is a less chance to break 120-130.
All in the chart.
If you count waves, look for impulse downside, no impulse downside no shorting.
Look for triangle in 4th wave as well, keep patience, if it forms a triangle we may see 190/193 levels, which will give more better R:R.
technically tata motors formed an inverted head and shoulder patter. If it's breaks above the price level 188 we may go for a short and long time buy or before entering we have to wait for results announcements.
Tatamotors is nearing zone of resistances of 180,186 and 200. It fell a lot and the fundamental seems to have improved a bit with improved sales. If it closes above 180, buy with SL 169 with open target (Tgt 1 : 194, Tgt 2: above 200)
MOMENTUM/SWING TRADE IN TATA MOTORS
STOCK CONSTANTLY TAKING SUPPORT ON 20-DMA
CROSSING 50-DMA TODAY(WAIT AND WATCH)
RISING 20-DMA+RISING 50-DMA WITH AN OPEN INTEREST BUILT-UP
BUY@178.5 (IF CLOSING ABOVE)
I would have loved to see tata motors to consolidate at lower levels before a successful breakout but it seems we will see small bullish move for now while nifty is looking good.
buy on the breakout from blueline and use trailing stoploss.
do hit like and share your opinion in comments.
WAVE 1 - 24 POINTS
WAVE 3 - 18 POINTS
If wave 3 is 18 points ; then wave 5 of ending diagonal has to be shorter than 18 points
Previous low of TATA MOTORS is 164.
if we deduct 18 points from the current price of 178 , then it comes to 160
Hence i conclude that anything below 164 is a must buy in Tata motors .
Even otherwise intrinsic value of tata motors is...