TATAMOTORS ANALYSIS

Intraday Update 12.15 PM:
416 target almost achieved after the breakout above 410.

Bearish Count: V over at 420, a @ 404, b now @ 415.85 and down towards c near 400-396 levels.

Bullish Count : a.v - 420 , b.v - 404 and now towards c.v

TATAMOTORS ANALYSIS:
 A Bullish Wolfe Wave has formed - expecting point 5 near 404.
 Holding 404 - another High upto 416-420 possible.
This would render the Daimond Pattern as a continuation pattern and not a reversal pattern. Diamond Breakout is above 410.
Breakdown below 404 - Diamond Pattern targets are 400-396

TATAMOTORS ANALYSIS

Tatamotors Update 12.00noon:

TATAMOTOR ANALYSIS:

A diamond pattern has formed in Tatamotor Hour charts.
Breakdown below 407.3 - targets 398-96
Breakout above 413 - targets - 421-424

TATAMOTORS UPDATE

Tatamotors made a high of 420 yesterday - with a possibility of completion of a 5 wave structure in Hou charts.

Bearish Possibility:

 5th wave completed at 420 and the correction has started. Break of 408 or rather break of 405 would confirm a correction.

NIFTY and TATAMOTORS ANALYSIS

Nifty made a High of 6282 on Friday but closed below the Month Hema and crucial resistance level of 6290-6300.

Resistance at 6280-90.
Support at 6180-90 - 50 DMA.
If supported quick move towards 6300++
Breakdown below 6180 - 50 DMA and EOD close below it is very bearish - likely to lead below 6100 levels.