A 5-0 pattern is almost complete in day charts @6160. This Pattern would be invalid above 6194 - 61.8% retracement of 6358 - 5933.
February 21, 2014
NIFTY ANALYSIS and TATAMOTORS ANALYSIS
Nifty found support from the 200DMA @5971 and has rallied upto 6160 and has closed below the Day HEMA thereby indicating sell on rise.
February 20, 2014
TATA MOTORS ANALYSIS
UPDATE 1.00 pm:
Hour chart with EW count:
If 390-388 is held then a swift upmove to 395++.If breaks down 390 then down to 380,375.
Hour chart with EW count:
If 390-388 is held then a swift upmove to 395++.If breaks down 390 then down to 380,375.