TATA Motors Anticipated Happened

 Tata Motors hourly chart Anticipated on 15th August 2020

Tata Motors hourly chart Happened on 26th August 2020

In my previous update dated 15th August 2020, I had mentioned, "Tata Motors will find support at 120-122 levels which can be utilized as a buying opportunity with support at 114 (closing basis). On the upside that stock can test 134-136 levels." Today it surpassed 134-136 zone thus Anticipated Happened.

Here is the link of my previous article of Tata Motors click on it

https://www.marketanalysiswithmeghmody.com/2020/08/tata-motors-elliott-wave-analysis.html

I was very clear that prices will take support at 122-120 price zone which was earlier acting as a crucial resistance, once this level was taken out  it will now act as a support (polarity reversal). Also I had mentioned that it will be a buying opportunity with stop of 114 (closing basis). The stock never went below 120 and from that level it achieved my target of price zone 134-136, thus gaining 13% in 7 trading sessions.

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Comments

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