Tata 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
Because of 38 % Projection
Disclaimer - i can be wrong !!!
This is a daily chart of sun pharma
As you can see on daily chart , sun pharma is on a down trend in Daily chart which is obvious
A successful daily close above 485 may change the trend on daily chart , till that time , it is still on a downtrend
Here the rectangular box is called the fair value area & the price usually gets attracted to this rectangle and the...
This is a Weekly chart
The blue horizontal line should be a significant resistant area as it was a previous support area
So probably Suntv may find it difficult to cross 555.
The long term support for suntv comes @ 444.
So look for Beautiful Destinations When suntv reaches the triple repetitive 444
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.”
BUY SET UP AS AN INVESTMENT
1) BUY @ 630
3) STOP LOSS 580
4) TIME FRAME - ONE YEAR
Reasons for Buy set up
1) one set of ABC wave correction is over
2) a channel low is spotted
3) confluence of 62% retracement & channel low