TATAMOTORS ANALYSIS

Tatamotors brokedown below 443 - 5DMA and has reached 10 DMa near 434-436 levels.

If supported at 434 - expanding triangle of Day charts and Falling wedge of Hour charts, then a good upmove upto 465++ on breakout above 439-440.

Breakdown of 434 - would drag upto 420-416 - 50 DMA levels coinciding with channel bottom of Day charts.

EW count supports both.

SYNOPSIS: Holding yesterday's low of 434, and if today opens above 436 - It is Low Risk High reward entry.

Positional Trade - Hold longs with Sl 434 EOD.

Aggressive Sell - Sell below 434 on Hourly close basis - with SL Hour close above 436.

Bank Nifty weekly Pattern

In Bank Nifty Weekly charts when the OHLC candle chart is taken it forms a Diamond Pattern. Whereas when the close values are charted then an expanding trainagle is in the making.