Tata motors case study

Tata motors spot cmp 590
weekly time frame
Wolf wave study

Bearish wolf wave formation
Counter is in overbouht zone as per structure, trading above the resistance line.
Previous life time high levels at 600,
Bearish divergence on RSI, with respect to price.

counter is facing price rejection around 600 levels, which act as resistance as per previous life high levels.
Bullish only above 610 on weekly closing basis,
Till counter is below this levels , possibility of 50-70 point down side is higher.
Further view can be taken once counter gives weekly close below 535 levels.

Bulls time to cautious, bears at door step.