TradingLounge TATA Motors Stock Analysis – Daily Chart Analysis

TATA Motors Elliott Wave Technical Analysis

  • Function: Counter Trend (Minute degree, Navy)

  • Mode: Motive

  • Structure: Potential Impulse within a larger degree corrective wave

  • Position: Minute Wave ((iii)) Navy

  • Details: Minute Wave ((iii)) Navy is moving lower within Minor Wave 1 or A against the 1145-50 level.

  • Invalidation point: 1145-50

TATA Motors Daily Chart Technical Analysis and Elliott Wave Counts

The wave structure of TATA Motors has shifted since last week's update, as the stock has broken below the 1011 interim support level. There could be an alternative scenario unfolding, with Intermediate Wave (5) Orange likely completed near the 1180 high.

Since reaching lows in December 2022 around the 375-80 range, the stock has rallied in an impulsive fashion. It is possible that Intermediate Wave (5) has finished, and the stock will remain under pressure as long as it stays below the 1180 level. The Elliott Channel resistance remains slightly below 1180.

If the current wave structure holds, TATA Motors is expected to stay under the 1180 level and move lower toward the 850-55 range. This would signify the completion of Minor Wave 4, potentially signaling a deeper correction ahead.

TATA-Motors-1D-Stock...


TradingLounge TATA Motors Stock  4-Hour Chart Analysis

TATA Motors Elliott Wave Technical Analysis

  • Function: Counter Trend (Minute degree, Navy)

  • Mode: Motive

  • Structure: Potential Impulse within a larger degree corrective wave

  • Position: Minute Wave ((iii)) Navy

  • Details: Minute Wave ((iii)) Navy is moving lower within Minor Wave 1 or A, targeting the 855 zone.

  • Invalidation point: 1145-50

TATA Motors 4H Chart Technical Analysis and Elliott Wave Counts

The TATA Motors 4H chart has been updated to reflect that Wave (5) may have completed around the 1180 high, registered on July 30, 2024. Furthermore, Minor Wave 5 Grey seems to have subdivided into five smaller waves, terminating close to 1180.

Minute Waves ((i)) and ((ii)) likely completed around the 1011 and 1045-50 levels, respectively. If this analysis holds true, the stock price is expected to decline toward the 850 level as Minute Wave ((iii)) Navy progresses, staying below the 1145-50 range.

Technical Analyst: Harsh Japee

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: Maruti Suzuki India Elliott Wave Technical Analysis 

Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

TATA-Motors-4h-Stock...


Conclusion:

TATA Motors may continue to move lower within Minute Wave ((iii)) Navy of Minor Wave 1 Grey, staying below the 1145-50 level.

Related

Crisp Stock Market Analysis and Winning Trading Strategies for AAPL, TSLA, AMZN, NVDA, MSFT, and More

Crisp Stock Market Analysis and Winning Trading Strategies for AAPL, TSLA, AMZN, NVDA, MSFT, and More

comprehensive stock market analysis and trading strategy overview for various prominent stocks, incl...

Read More >
Polkadot/U.S. dollar(DOTUSD) Elliott Wave Technical Analysis 23 January 24

Polkadot/U.S. dollar(DOTUSD) Elliott Wave Technical Analysis 23 January 24

Polkadot and U.S. dollar Elliott Wave Technical Analysis dated 23 January 24, DOTUSD Elliott Wave Te...

Read More >
ADANI PORTS and SEZ Elliott Wave Technical Analysis: Stay Updated on Trading Strategies and Stock Trends for 2024

ADANI PORTS and SEZ Elliott Wave Technical Analysis: Stay Updated on Trading Strategies and Stock Trends for 2024

Adani Ports & SEZ stock is progressing within an Elliott Wave impulse structure, targeting levels ab...

Read More >
NEO/USD Elliott Wave Technical Analysis Predicts Wave 3 Breakout with Bullish Targets Above $5.75 and Support Set at $4.36

NEO/USD Elliott Wave Technical Analysis Predicts Wave 3 Breakout with Bullish Targets Above $5.75 and Support Set at $4.36

NEO/USD may have completed a major corrective phase. A bullish wave 3 could be underway with key lev...

Read More >
Theta token/ U.S. dollar(THETAUSD) Elliott Wave Technical Analysis 12 December 23

Theta token/ U.S. dollar(THETAUSD) Elliott Wave Technical Analysis 12 December 23

TradingLounge Day and 4H Chart of Theta token/ U.S. dollar(THETAUSD) Elliott Wave Technical Analysis...

Read More >
Forex Trading Strategy and Price Predictions for the British Pound to Australian Dollar Pair Based on Technical Analysis

Forex Trading Strategy and Price Predictions for the British Pound to Australian Dollar Pair Based on Technical Analysis

Get an in-depth look at GBPAUD Elliott Wave analysis with insights into current trends, forecasts, a...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on