Hi friends
Tata motors after witnessing multi year bull run ,Has started to show
exhaustion in strength as its evident by the corrections in short duration in a slanting
upward direction in technical terms we could be forming a rising wedge or in wave terms
ending diagonal with last leg of rise going on.
As seen from the above chart this topping pattern has emerged after a multiyear extended
3rd wave.In 2008,Tata motors acquired the British car maker Jaguar Land Rover,There were lot of rumors about the difficulty by which Tatas funded the debt ,Well 2009 to 2010 saw extended 3rd wave rally in it :).
In this final push up levels of 360 can be seen where investors should look to
book their profits and traders can look for shorting opportunity.Would be looking closely Tatamotors
for next few weeks:).
Tata motors after witnessing multi year bull run ,Has started to show
exhaustion in strength as its evident by the corrections in short duration in a slanting
upward direction in technical terms we could be forming a rising wedge or in wave terms
ending diagonal with last leg of rise going on.
3rd wave.In 2008,Tata motors acquired the British car maker Jaguar Land Rover,There were lot of rumors about the difficulty by which Tatas funded the debt ,Well 2009 to 2010 saw extended 3rd wave rally in it :).
In this final push up levels of 360 can be seen where investors should look to
book their profits and traders can look for shorting opportunity.Would be looking closely Tatamotors
for next few weeks:).
Nice to see you are active now
ReplyDeleteThank you