TataMotors: Short/Medium Term View

Jul 13, 2017

Since my last post reflected a long term bearish bias on the stock (See >> https://in.tradingview.com/chart/TATAMOTORS/ikQ7RbQ7-Tata-Motors-Falling-Wedges/), that doesn't mean we shall not take intermediate and short term up moves.

In the short to medium term the stock may tend to touch the resistance area before showing any signs of weakness.

Hit like for better analysis in future. Comments are welcomed.
Trade safe.

Best Regards
Bravetotrade

Jul 14, 2017

Note

Heading towards potential support.

Jul 17, 2017

Note

Jul 19, 2017

Note

Bouncing off sharply from support zone. Minor resistance @ 463-465; Next target zone 470-475

Jul 20, 2017

Note

Minor resistance zone hit.

Jul 23, 2017

Note

Jul 25, 2017

Note

Jul 27, 2017

Note

The Reciprocal Patterrn: Normally, The first target for such ABCD is 0.618 which is done@460. Next extended target could be 468.
But that doesn't mean stock won't go higher in future :)