TataMotors: Short/Medium Term View

13 Jul 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

14 Jul 2017

Catatan

Heading towards potential support.

17 Jul 2017

Catatan

19 Jul 2017

Catatan

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

20 Jul 2017

Catatan

Minor resistance zone hit.

23 Jul 2017

Catatan

25 Jul 2017

Catatan

27 Jul 2017

Catatan

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 :)