TATA MOTORS DETAILED VIEW AB=CD PATTERN ACCURATE RETRACEMENT

I HAVE DRAWN AB=CD PATTERN NOW, AS RULES SAYS IF LOWER SUPPORT IS AT .618 UPPER RESISTANCE MUST BE AT 1.618 THEN, I CALCULATED POINT A TO B IT WENT UP 93.30 RUPEES. THEN I CALCULATED .618 RETRACEMENT OF THIS AS 93.40 X .618 WHICH GIVES 57.9375 LETS TAKE IT AS 58 NOW STOCK HAS ALREADY FALLEN 47 RUPEES AS SHOWN BUT HAS TO FALL TILL 58 APPROX AS SHOWN THIS COMPLETES THE .618 RETRACEMENT THEN, AS A RULE STOCK MUST GO TILL POINT D WHICH WILL BE OUR SELLING AREA NOW IF WE CALCULATE 1.618 OF 58 RUPEES IT GIVES 58 X 1.618 = 93.035 WHICH WILL BE COMPLETED AT D NOTE: PINK TRENDLINE IS HUGE RESISTANCE IN BETWEEN KEEP A NOTE OF IT TOO GOOD LUCK
TRADE AT YOUR OWN RISK WE ALL ARE LEARNERS SO, I MAY BE WRONG GOOD LUCK

评论:

if you extend pink line towards right it is acting as resistance for now