This blog is my trading diary. It is an attempt to organise my analysis and thoughts. I follow the charting methods given in JUST NIFTY blog by Ilango sir and so the charts would have striking resemblance to his charts. I am indebted to Ilango sir for having made this blog possible for me.

July 24, 2014

TATAMOTORS ANALYSIS

TATAMOTORS UPDATE HOUR CHART 25 JULY:


Tatamotors found short term support at 470 (Click Here) - and has moved up to 488.2 - and reigning at 484 levels.

HOUR CHART:




Channel Resistance @ 490 - Breakout above 490 - requires at least 2Hours Close above 490

Channel Support @ 480 - breakdown below 480 - corresponding to 5DMA.  An EOD close below 480 - would initially drag towards -468 - 10 DMA

DAY CHART:


A WOLFE WAVE IS FORMED at the CHANNEL RESISTANCE 1,2,3,4 &5.
This would be negated with an EOD close above 490.
An EOD close below 5DMA 479 would be the initial trigger point.

WEEK CHARTS:


MONTH CHART:


 490 - 480  is the decider level for further Upmoves or downmoves. 

A Bullish Shark Pattern has developed in day Charts which would also be negated above 491. 


Development of Bullish Shark Pattern:
OX - 429-484.7
A - 442.6 - 78.6% retracement
B - 88.2 - approx 113% retr of XA
Proj for C:
 61.8% - 460.02
78.6% - 452.36
88.6% - 447.8
113% - 436.67 - This also coincides with 88.6% of OX.

Synopsis:

An EOD close above 490 - Bullish. An EOD close Below 479 - Bearish.




4 comments:

Real Pilot said...

Satheesh,
How is it a "Bullish" shark pattern when price is expected to sink?
Thanks

satheesh said...

@ Real Pilot,

The Pattern gets completed only at Point C. The current down leg is the last leg of the pattern. It would give a good bullish move at the end of C - hence the name Bullish Pattern.

Real Pilot said...

Hello Satheesh,

Now that 113% and 88.6 OX are nearly done, it is a bullish stock now. How are bullish projections to be made?

Rgds

Nelson said...

hi, blogger
can u predict HSI ..??

Post a Comment