tatamotors 5 wave intraday move

TATAMOTORS ANALYSIS

After the breakout above 370 - Tatamotors has rallied upto 389. Holding of 379.4 is required for the upmove.

If it is the iv wave it should not go below 379.35 - i.e i.5 .

If 379 is broken then it is likely that the C down has started.

378.5 - 50 DMA 

Breaking of 379 - would place Tatamotors below the neckline of the inv H& S pattern.

Respecting 380 -  the target for inv h&S pattern approximately is 390++

Tatamotors Analysis

The Diamond pattern of tatamotors (Click HERE)  

                     

gave a Huge Breakout and it reached upto 379 - 50 DMA and resisting from thereon.

As per day charts resistances at 375, 380 - So an EOD close above the 50 DMA is required for further Upmoves.

Supports at 370, 368 - So an EOD close below 10 DMA is required for sustained downmove. Currently trading range between 370 - 380.

As per weekly charts there are supports at 370 level. Breakdown of which would be a channel breakdown.
Holding 370 and breaking past 380 - Possibility of new Highs

 Holding 370 - key for both Up and Down Moves

UPDATES (CLICK HERE)

TATAMOTORS WOLFE WAVE

TATAMOTORS ANALYSIS 13 JAN 2014:

Diamond Pattern Breakdown below - 366
Breakout above - 369.
If breakout occurs the next resistance as Per chart is around 375.
If Breakdown occurs at 366 -then the next support as per day charts id 360 - Inverse cup with handle neck line at 360. 

Tatamotors Diamond pattern update 2.30 PM:

Diamond pattern breakdown below 365

TATAMOTORS UPDATE 10 JAN 12.00NOON:

Diamond pattern breakdown below 365 - breakout above 370

12.00 Noon Update:

A Bearish WOlfe Wave has formed in Tatamotors.

With an EOD close above 372 - above 10DMA - Tatamotors would again break above the trendline and it is likely that the wolfe wave gets invalidated - and the WOlfe wave pattern would be converted to a channel.

Tatamotors Charts

Staying below 371 - 10 DMA - it would be a breakdown of an Inverted C&H pattern - targets as low as 340 levels.

Moving past 371 and an EOD close above it would take it to 380 levels and above - failing the inverted C&H pattern.