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.
