As per my wave analysis, the present up move is short lived, so keep tight SL and take profits.
The next moves are indicated in the chart.
Happy trading..
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We are still in consolidation of the first move up, so do not jump in for shorts now please.. Let it develop some more and we will be more clearer as to what it is trying to do..
The point is that shorting is not the target guys, but, we should be waiting eagerly for the LONG up move as and when it happens, till then we sit like a cheetah and wait, wait.. wait.
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Prices did follow the UP move, but now we are looking for the down move.. Happy trading..
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TataMotors, according to me, this is still not an up move..
@chandru81, We are still in consolidation of the first move up, so do not jump in for shorts now please.. Let it develop some more and we will be more clearer as to what it is trying to do..
The point is that shorting is not the target guys, but, we should be waiting eagerly for the LONG up move as and when it happens, till then we sit like a cheetah and wait, wait.. wait.