TATA MOTORS
How to start writing about TATA MOTORS. I'd like to give only technical picture of the stock in comparison with Bajaj Auto. If we observe weekly charts of Bajaj Auto and TATA motors we see some similar formation Bajaj Auto leading the pattern.
Bajaj Auto made a high in the month of Nov'14 and then started correcting for almost 5 months till April'15. Stock took sharp reversal making V share reversal( took support at its weekly 200 EMA and 61% fibo levels as show in chart) in its move and almost came back to the highs which is almost 38 - 39% of move.
Coming to TATAMOTORS, stock now following the same kind of pattern making High at 612.4 in the month of Feb'15. From Feb stock corrected for almost 5 Months ( same as Bajaj Auto). Now stock is trading at 390 levels making Weekly Doji at 200 EMA and also near to its 61% Fibo levels.
We see it is time for stock to bounce from here until previous high in next 12 to 13 weeks. So we recommend TRADERS to by this stock on crossing Dojis High, for investors from CMP.
Manage the margins and keep roll over this for next coming three months to see 38 - 40% returns on stock price.
Wish you good Luck !
How to start writing about TATA MOTORS. I'd like to give only technical picture of the stock in comparison with Bajaj Auto. If we observe weekly charts of Bajaj Auto and TATA motors we see some similar formation Bajaj Auto leading the pattern.
Bajaj Auto made a high in the month of Nov'14 and then started correcting for almost 5 months till April'15. Stock took sharp reversal making V share reversal( took support at its weekly 200 EMA and 61% fibo levels as show in chart) in its move and almost came back to the highs which is almost 38 - 39% of move.
Coming to TATAMOTORS, stock now following the same kind of pattern making High at 612.4 in the month of Feb'15. From Feb stock corrected for almost 5 Months ( same as Bajaj Auto). Now stock is trading at 390 levels making Weekly Doji at 200 EMA and also near to its 61% Fibo levels.
We see it is time for stock to bounce from here until previous high in next 12 to 13 weeks. So we recommend TRADERS to by this stock on crossing Dojis High, for investors from CMP.
Manage the margins and keep roll over this for next coming three months to see 38 - 40% returns on stock price.
Wish you good Luck !
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