Many
analysts tried to catch a low of this stock but we have been bearish from many
months. This stock has failed to show any contribution during the rally of
Nifty 50 index. It has been moving in lacklustre manner since 2017.
Using
techniques like Elliott waves, Neo wave, Moving averages, Bar techniques, we
have been able to capture the move from 250 levels. From past 7 consecutive
trading sessions stock has failed to close in green.
Tata
Motors Hourly chart: Anticipated as on 19th September 2018
Tata
Motors Hourly chart: Happened as on 27th September 2018
(Below is the research taken
form daily equity report published on 19th of September, 2018)
Wave analysis:
In
the previous session Tata Motors had a minor gap down opening post which it
continued to trade lower making a low near 250 levels. The stock slipped by
nearly 3.50% and was among the top losers in the Index. While there has been
speculation that the move came out after Tata Motors owned JLR confirmed a cut
in its production while if we look at the other side the stock had been in a
downtrend for many months now and it is no surprise for us.
A
shown on hourly chart, prices are showing an overlapping move and are forming a
Diametric pattern; post completing wave f near 280 levels currently we are
seeing the last leg i.e. wave g ongoing which is expected to take the prices
further down. At this juncture any pullback can be used as a shorting
opportunity…….
In
short, trend for Tata Motor looks negative. It is wise to use any pullback
towards 255 as a shorting opportunity for capturing a move towards 240 or lower
levels…
Happened:
Prices of Tata Motors have moved precisely as expected, making a low 226.55
levels. This stock has failed to show any sign of positive reversal. It is
better to use shorting strategy using proper resistance levels to avoid the
noise of volatile move.
To know
about the crucial levels of various stocks and how far the Tata Motor will move
subscribe to our daily equity report published under the name of “The
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