Tata Motors DVR looks like its forming a corrective pattern after breaking out of the downward trend line. Once the corrective pattern is finished in the 1 hour time frame, I think we will get to see an upside- either a corrective upside (C wave for further decline) OR a move to retest the 240 top. Near term, I guess there is atleast one upmove pending after ...
Tata Motors As per Elliots Truncated 5th + it has completed all phases of correction, now is time for a "U" turn at least till 300.
Entry : 160 <=> 190 Range
Stoploss : 50 pts (Closing Basis)
Basic Target: T1 : 300 & T2 : 350
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Tata Motors is following a disciplined rectangular channel for long time. An upside breakout has been seen in recent and another one is expected soon.
Long when channel breakout happens successfully.
"The trick is not to learn to trust your gut feelings,
but rather to discipline yourself to ignore them.
Fundamental story of the company hasn’t changed.”
Target - 155
risk - 15 points
reward 30 points
Risk reward 1:2
In the previous analysis was worked accurate on TATATOMOTORS.
The execution of the strongest responsive moved seen in it, and the price come to value low. Traders & Investors attraction always come to at this point to long.
The previous Support at 167 nearby , I suggest to take a long position and over the responsive move.
- The best level to buy will be around Rs. 165
- However, my advice will be don't jump, let the dust settle since the auto sector is still far from recovery
Tata motors is on a down-swing &
trade the trend is your best friend
As per the trade shorting should be the rule in Tata motors
However i see a major support @ 173 , take your profits there !!!
