Although Tata Motors stock is down more than 70% from its fall, there is still no signal for a reversal in monthly chart.
But it may give a good returns in next 1-2 months.
Tata Motors can give a returns upto 30-40%, as we can see a growth in volume ans RSI is in oversold position.
Also in daily and weekly chart buying has been seen forming Bullish Divergence.
Tata Motors in oversold category.
Investors panicked after making
higher highs and double top@600.
Next Support at 147.
Can make entry at 178, 148.
This would be a great opportunity
for 2x and 3x for long term investors..
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
Tatamotors in recent time has taken a severe beating in the market. But now it seems all the negative is in the price and now it is ready for some serious bounce back. One can go long around 196 with stoploss of 170 for target of 245 in coming weeks. Above 206 it will gain more momentum.
Disclaimer: View expressed here are only for educational purpose and it...