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anshusahay
Nov 18, 2018 6:33 PM

TATAMOTORS - SHORT TERM BUY WITH A TARGET OF 201 AND SL OF 172 Long

TATA MOTORS LTD.NSE

Description

WAVE A ON THE UPSIDE FOR TATAMOTORS SEEMS TO BE A 5 WAVE SEQUENCE, WHICH CONFIRMS THAT TATAMOTORS IS MAKING A ZIGZAG CORRECTION. IN THIS CASE, THE B WAVE SHOULD IDEALLY NOT RETRACE MORE THAN 61.8% AND DEFINITELY NOT MORE THAN 79% AND THE C WAVE SHOULD AT LEAST TOUCH THE END OF WAVE A. THIS GIVES A SL OF 172.2 WITH A TARGET OF 201. A RR OF ALMOST 1:3
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