Tech Mahindra

I am posting Elliott Wave Analysis of weekly chart of 'Tech Mahindra' to understand it's structure. It seems that it has completed primary wave [3] and now it will correct to complete wave [4].

In daily chart, the wave [3] is almost 261.8% of wave [1]. So may be this is the end of wave [3]. The last candlestick is 'key reversal candlestick'  so some correction may follow. One should buy on dips as wave [5] is still to unfold after wave [4].

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

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.