Tata Motors Elliott Wave Analysis

-

 Tata Motors hourly chart

From hourly chart, the auto stock continues to move in a higher high and higher low formation and it is precisely moving in a rising formation. As far as prices persist in the rising channel the bias will continue to be positive. MACD is also in a positive terrain.

As per wave analysis, the stock is moving in a double correction as of now(a-b-c-x-a-b-c). Recently it completed wave x in a triangle pattern and it is all set to complete wave a of second correction after that wave b will start in the opposite direction.

In short, prices are expected to move in a positive direction near till 155-158 levels with support at 144 (closing basis).

Learn Technical Analysis in our 4 month course to help you to identify better trade setups. This course will be conducted every twice in a week for around 2 hours. This theory can be applied on all free floating markets. In this course learn from basic to advance and the fees for the same will be Rs. 12,000/-

Elliott and Neo Wave analysis is conducted for 1 month, this is an advance technical course suited for professional traders. Twice a week, 2 hours will be given for theory as well as practical application. The fees for it will be Rs. 10,500/-.

Classroom training and webinars both are available. If you reside in Mumbai, classroom training is conducted in Vile Parle near station and Borivli Station. For inquiry and registration call +919324174580.


Comments

Post a Comment

Popular posts from this blog

Nifty in Ending Diagonal Pattern?

-
Image
 Nifty Daily chart Analysis Nifty is currently exhibiting a pattern of higher highs and higher lows, indicating a positive trend. While there is no immediate sign of reversal, there are indications suggesting that the current upward momentum may be losing steam. According to the Elliott Wave theory, there are signals suggesting the formation of a distribution pattern, specifically an ending diagonal pattern. However, this pattern is still unfolding, with one leg remaining on the upside, potentially pushing the index to new all-time highs within the range of 22300-22400 levels. Once this leg concludes, there could be a reversal in the trend. In summary, Nifty is anticipated to climb further from its current levels and may reach a new all-time high in the range of 22300-22400. However, after reaching this peak, a reversal could occur, potentially leading the index down to the range of 18000-19000 levels. Join my Telegram Channel :  https://t.me/elliottician1 Join My Twitter handle :  htt
Read more

Gold Anticipated Happned

-
Image
 Gold anticipated on 14th Oct 2023 Gold happened on 28th Nov 2023 Analysis In my prior article, I noted that "Gold prices have the potential to climb higher and may reach the $2025-2030 range in the short to medium term." The yellow metal indeed surged towards $2150 levels, surpassing my projected range of $2025-2030 when it was initially trading at $1933 - the anticipated outcome. To read my previous article on Gold, click on the link below https://www.marketanalysiswithmeghmody.com/2023/10/gold-and-elliott-wave-counts.html Presently, prices are following a flat pattern, having completed wave a of wave b, and this wave b is identified as a flat. The next movement could reach a minimum of 80%, translating to $2090 levels, or it might extend to $2150 levels or beyond. Clear-cut indications point towards prices fluctuating within the $2100-2150 range. Currently, prices are recorded at $2053 levels. To sum up, Gold prices display a positive outlook and are expected to fluctuate
Read more

MCX Crude Oil - Reversal as per Elliott Wave Analysis

-
Image
 MCX Crude Oil 4 hour chart Analysis According to the presented chart, the price movement of crude oil shows a consistent pattern of lower highs and lower lows, suggesting a prevailing negative bias. Notably, there was a recent breach of the previous low following the Crude Oil inventories report, leading to a decline towards the 5787 levels. Despite this, there is a potential for a relief rally or a reversal to occur at the current levels. Examining the Waves perspective, Crude Oil exhibited a three-leg pattern (A-B-C), with wave C concluding at 161.8% of the distance from wave A to wave B, as illustrated in the chart. Within wave C, there are distinct markings of five waves, hinting at the imminent completion of the downtrend. In summary, it is suggested that MX Crude Oil could experience a relief rally or a reversal in the vicinity of these levels, with the potential to test the 7000 levels in the future . Join my Telegram Channel :  https://t.me/elliottician1 Join My Twitter handle
Read more