Short

Tatamotor in corrective wave - Short?

Updated

Currently, Looking at structure of "Weekly continuation Chart" with all-time high 606. I'm want to call your attention little bit about picture "Corrective Phase A,B, and C" which is already completed. We have had a long run here right from the "low 63.5" back in 2020. It appears to be "motive phase(1,2,3,4 and 5 waves)" or "ABC corrective phase".

Wave ((A))=Wave ((C)) at 567 - recent high 537
OR
Let's look at lower 2D-TF for another scenario as "motive-phase".

it looks like we're making side-wave structure here and I'm trying to analyze correction to see if we had potential further downside or maybe the correction was over. I've showed in chart zigzag W,X and Y which i interpreted as wave X at 443, B at 506 and followed by zigzag downward for wave Y that I'm considering going "Short Tatamotors".
Before taking action short side, we have to consider couple other things there is chance to move upward. if the price move 500 +, this WYZ zigzag is invalid.

Trade active

Sell between 492.5-494 Future continuous contract of TATAMOTORS with your stop 497.5 for targets 481 for short term and 472-461

Note

SL hit

Note

Tata motors is followed my cash level

Note

First target of TATAMOTORS in cash price has been achieved as 472 from 497

Trade-Technique

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