19 March 2012

TATA MOTORS - ELLIOT WAVE ANALYSIS

Hi Friends,
TATA MOTORS


The key to success in Market is Discipline Trading and Control over Greed and Fear. Buy in panic and Sell in Euphoria.

Tata Motors Marking the All time High is somehow Depicting Euphoria over the Street. And I Would be Fearful to Buy this stock at such Sky High levels when everyone is Greedy.

Well and as most of you know that I'm Die Hard Fan of Elliot Wave Analysis and keep forecasting some unbelievable levels.. :P

So here I'm trying to put my Efforts to do Elliot Wave Analysis of Tata Motors.

The Current Structure of Tata Motors looks like what is Called an Expanded Flat Corrective a 3-3-5. Where the low of Aug 2011 is marked as A and the ongoing leg as B which looks complete at 297.. And now the pending C would take it below the lows made in August 2011 to 120-125.. till June 2012.

OMG that's too Scary!

Though currently I don't have a very strong evidence to make such a Bold Forecast. But we must be alert for such a murderous move on the Stock.

Wave Principle is not primarily a forecasting tool; but it is a detailed study of market behavior. With help such studies one can pick accurate price reversals and targets.

As I'm new to Elliot. I will keep learning from my mistakes and try to improve over the time.


Happy Minting,

Thanks & Regards,

Harsh Dixit