Not too familiar with overseas stocks, but from a charting guy, this looks promising. Just an idea to look at. Will followup after time has passed. Thanks
With continuous gain in volume and up-trending moves, it is making new breakouts very frequently and today I observed the same. I expect today's breakout will speed up its movement to 520 levels.
Target 1: 520
SL: 480
Tata group's flagship companies are in cross hair because of its UK connections. Tata Steel is the example of ambitious plan going awry and Tata Motors is going to be questioned because of its Land Rover automobiles.
Tata Motors
It's a headache to deal with unexpected situations for a company like Tata Motors which has big aspirations and determined to create...
Pls refer to the charts (weekly in my first idea and 15-minutes one in this idea).
Strategy is: wait for completion of 4 of c of B. Add 9.45 points (i.e. length of 3 of c of B) to its end. This will be stop for shorting for wave-C (weekly one) riding. As price reaches near to the calculated stop, enter the position!
Target will be to the tune of 425...
This is in continuation of my previous idea in which wave-a was capitalized. Now is the time to capitalize on wave-c.
C = A gives:
453.60 (end of A) - (470-436 i.e. A) = 419..6
So, short at 446.5 (CMP spot)
SL 450.6 (2 of B started here)
Target: 419.6
This analysis is based on Elliott Wave theory.
TATMOTORS has completed a 5-wave impulse structure on weekly. The 5th of the 5th wave is ending diagonal clearly visible on 15-minute chart (pls see below).
So:
short near 468
stop loss 472
target near 444 per 15-minutes chart / between 425 and 375 per weekly chart
Position initiated yesterday at 466 spot/468.3...
As per the previous close, it seems bearish and looks like it will fill up the previous gap up on daily chart as well as hourly.
Take 50% profits at the first target zone marked in the range of 444-447.
Manage your risk with entry and positioning sizing.
