April 22, 2010

TATA MOTORS TRIANGLE
  • TATAMOTORS triangle break out targetting at least 1000.
  • keep 816 as stop loss and go long.
NIFTY DAY LINE CHART
NIFTY DAY CHART - 2
  • NIFTY closed below 5300 and below 20 DAY Sma.
  • the upturn in line chart is still intact
  • 5200 support is still intact.
  • we have closed above 5260 which is a minor resistance point.
NIFTY HNS
  • NIFTY reacted from an inverted head and shoulders pattern
  • This price action can move till 5340 and higher.
TATA MOTORS TODAY

TATA MOTORS YESTERDAY'S VIEW


  • TATA MOTORS if crosses 798 may give 815
  • if breaks the trend line can give 760.
TATA MOTORS exceeded the target and it has broken out of the daily triangle more upsides possible from here. A close above 816 will confirm the triangle break out today

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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore