Tata Motors Limited:
Again the same situation is ahead in case of Tata Motors as of Reliance Communications. There is a A-B-C correction wave yet to be produced in near future. Both MACD and RSI are indicating the weakness of the price. Better advise is to go short 2 lots of February 2013 future derivative of the stock at Rs. 316 and wait for squaring the positions at Rs. 285. (i.e: 31x2(1000)= Rs. 62,000) [Advised SL: 321]
In my view this stock will complete its down cycle from tomorrow and will move upward once it corsses 306.
ReplyDeleteso you are suspecting the target 285?
ReplyDeletehi can u pls share the software that u use, does the waves come automatically. or u drew them. u have selected a good stock to short but I would like to mention your reasoning of the wave pattern is not up to the mark. Please do check in.... But good if u had shorted at 329 levels. u would have made a killing... HAPPY TRADING
ReplyDeleteHello Neelam,
ReplyDeleteI use icharts.in for charts (EOD) and no the waves are not automatic, i drew them, i am a novice in technical analysis, so please feel free to correct my mistakes when ever possible. Thanks for your comment.
Batchu