TATAMOTOR ANALYSIS

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Tatamotors made a High of 337 and has had a pull back up to 404 - 50 DMA.

It is trading between 50 DMA and 10 DMAduring the past week.

Trading  above 414-415 - 5 DMA and an EOD close above 5DMA would give a runup towards 10 DMA again.

Failing to close below 5DMA - would drag tatamotors near 404-405 50 DMA again.

A Bearish Wolfe Wave has formed in Day Charts which would be invalidated on an EOD close above 10 DMA 420-422.

NIFTY ANALYSIS

FOR TATAMOTORS ANALYSIS CLICK HERE

NIFTY ANALYSIS:

Nifty has made a Life time high and has done a Pull back of almost 200 points.

DATE	HIGH	LOW	CLOSE	5 EMA	10 EMA
25-Apr-14	6870	6773	6783	6796	6774
28-Apr-14	6786	6750	6761	6785	6772
29-Apr-14	6780	6709	6715	6762	6762
30-Apr-14	6780	6657	6696	6740	6750
2-May-14	6738	6690	6695	6725	6740

5 DMA	10 DMA	HIGH EMA	LOW EMA
6807	6781	6841	6775
6804	6778	6823	6766
6783	6770	6808	6747
6759	6762	6799	6717
6730	6758	6779	6708

Nifty has closed below all parameters in day TF. The Day TF charts have been consistently exhibiting -ve divergences.

Hour charts are reaching the Over Sold area - and the channel breakout is above 6710 - Day LEMA. An EOD CLOSE above the Day LEMA would put a pause to the down movement.