WAVE 1 - 24 POINTS
WAVE 3 - 18 POINTS
If wave 3 is 18 points ; then wave 5 of ending diagonal has to be shorter than 18 points
Previous low of TATA MOTORS is 164.
if we deduct 18 points from the current price of 178 , then it comes to 160
Hence i conclude that anything below 164 is a must buy in Tata motors .
Even otherwise intrinsic value of tata motors is 264 which is the fair price
So at the current price , it is highly under-valued and an upmove is shortly expected
All wave counts are work in progress & are meant to aid trading
I use Elliott wave count to help in my trading &i am willing to accept i could be wrong
& knowing before hand what i will do when i am proved wrong...
The only thing that are guaranteed in life are Death & taxes....... (Benjamin Franklin)
WAVE 3 - 18 POINTS
If wave 3 is 18 points ; then wave 5 of ending diagonal has to be shorter than 18 points
Previous low of TATA MOTORS is 164.
if we deduct 18 points from the current price of 178 , then it comes to 160
Hence i conclude that anything below 164 is a must buy in Tata motors .
Even otherwise intrinsic value of tata motors is 264 which is the fair price
So at the current price , it is highly under-valued and an upmove is shortly expected
All wave counts are work in progress & are meant to aid trading
I use Elliott wave count to help in my trading &i am willing to accept i could be wrong
& knowing before hand what i will do when i am proved wrong...
The only thing that are guaranteed in life are Death & taxes....... (Benjamin Franklin)
Constructive criticism welcome !!!