DOUBLE CORRECTION WXY WAVE Y IN PROGRESSION.EXIT LONGS
TATAMOTORS IS MAKING DOUBLE CORRECTION WXY.
WAVE W AND WAVE X ARE DONE.
WAVE Y SUB-DIVIDES IN ABC SUB WAVES,TODAY'S BOUNCE INDICATING WE ARE IN WAVE B.WHERE IT WILL END DEPENDS UPON THE FORM OF CORRECTION(EXPANDED,REGULAR,RUNNING/ZIGZAG).
THIS WAVE B BOUNCE SHOULD BE USED TO EXIT LONGS AND CREATE SHORTS ONCE WE GET CONFIRMATION IN THE FORM OF BEARISH CANDLE.PERSONALLY I FEEL WAVE B SHOULD TERMINATE BETWEEN 308-316 AS THERE IS GAP IN THIS ZONE AND ONE SHOULD EXIT LONGS BETWEEN THIS RANGE.HOWEVER THIS DOES NOT MEAN THAT PRICES CANNOT GO ABOVE THIS ZONE.
1:1 EXTENTION TARGET OF WAVE Y COMES @ 250 RS.
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
WAVE W AND WAVE X ARE DONE.
WAVE Y SUB-DIVIDES IN ABC SUB WAVES,TODAY'S BOUNCE INDICATING WE ARE IN WAVE B.WHERE IT WILL END DEPENDS UPON THE FORM OF CORRECTION(EXPANDED,REGULAR,RUNNING/ZIGZAG).
THIS WAVE B BOUNCE SHOULD BE USED TO EXIT LONGS AND CREATE SHORTS ONCE WE GET CONFIRMATION IN THE FORM OF BEARISH CANDLE.PERSONALLY I FEEL WAVE B SHOULD TERMINATE BETWEEN 308-316 AS THERE IS GAP IN THIS ZONE AND ONE SHOULD EXIT LONGS BETWEEN THIS RANGE.HOWEVER THIS DOES NOT MEAN THAT PRICES CANNOT GO ABOVE THIS ZONE.
1:1 EXTENTION TARGET OF WAVE Y COMES @ 250 RS.
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
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