Tata Motors

I am posting Elliott Wave Analysis of monthly chart of Tata Motors to understand it's structure. It seems that the prime wave [3] has ended as it is near 161.8% extension of wave [1]. Some correction may follow but a buy on dip strategy may work here as wave [5] is still to unfold after wave [4] correction.

Disclaimer: This and all the ideas I present are for educational purpose only.