Tatamotors - Treacherous B Wave !!!!!

TATAMOTORS UPDATE 10.45 AM - 31 JAN:

Bullish Possibility :If  349 held another round of upmove to complete the B -

TATAMOTORS ANALYSIS

Tatamotors had a round of pull back yesterday and reached 359.

As per EW - Two to three possibilities are present now.
1. iv.A over and v.A is to start downwards.
2. A is over at 345 previous low and a B is unfolding - in which case there would be fluctuations and considering the expiry and month end this week, it would be in a trading mode.

CHANNEL BREAKOUT ABOVE 360 - IF BREAKOUT HAPPENS LIKELY TO TEST 368 - 100 DMA.

TATAMOTORS ANALYSIS

The diamond pattern in Week charts was broken decisively and fell drastically to reach 345 low. The Height of the diamond is the first target and it is achieved.

If 340 hold another round of pullback initially upto 355-360 is possible. If 340 breaks then then next levels would be 335-330-320.

Nifty & Tatamotors Analysis

TATAMOTORS:

 Tatamotors could not surpass 389 - and has dropped down to a low of 368 on Friday - 366 being the 100 DMA. It has reached the bottom of the Diamond pattern formed in weekly charts. Break down below 366 - 100 DMA would be a diamond pattern breakdown.

As per Day TF there are minor supports at 359-360 - previous lows. Break below 360 would drag Tatamotors to near 340 levels.