>TATAMOTORS TOPPING PATTERN FORMATION

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:).

>USDINR Target

Hi friends,
                   USDINR has been in the range of 53 to 55.50 for many weeks now
When i breakdown the waves i see a lot of abc's around which indeed suggest of a rangebound
move to continue for some more time .
Trade idea can be  buy near 53.50 target would be 55.50-56
once we near 56 a short can be taken for a target of 53 again suggesting a lot of sideways move
coming forward.

Once we go below 53 or go above 56 we can rework the wave count.Lets see the USDINR move in coming days.

>Nifty analysis

Hi Friends,
                   Today nifty took 5650 resistance and closed above that ,Which suggests W is done
and we are in for a X wave a retest of 5650 would give strength to the move ,The next big resistance
comes near 5800+ levels .The next few days would shape up how the structure of X wave evolves

.

>Nifty 15th april

Hi friends,
                   Nifty continues to squeeze

The structure suggests a labored rise towards 5650-5700 and if it fails to sustain above  5650
after that  a swift fall towards 5480-5450 would be expected to form the pattern .Next few days move would clear picture ,Range squeeze continues :).