31 May 2012

TATA MOTORS BACK IN BEAR

Hi Friends,

Tata Motors is back in Bear..

The sad part is people are recognizing it almost a month later..

I had posted my wave count of Expanded Flat in Tata Motors 2 months back when it was around 298.. Now this Flat has started showing its effect.


You can check my earlier wave count here.


http://trend-o-nomics.blogspot.in/2012/03/tata-motors-elliot-wave-analysis.html


Tata Motors has long way to go to 176-140 or even 125..

I had posted the above view earlier when the stock was trading at sky high levels..

Check this revised Wave-count below.:-
TATA MOTORS

Now we have got the initial confirmation for the lower targets. Next confirmation will come after the Relief Rally..
TATA MOTORS


Currently Tata Motors has Support at 220-230. And it may start giving Pull Back Rally after testing 220-230 area.. The maximum Pull Back can be expected around 260-270 zone.. Failure to cross 260-270 will confirm the next Blood Bath on the stock.


Lets wait & watch.


Thanks & regards,

Harsh Dixit.