25 Sep 2020 ● 01:23 PM
Tata Motors, completed a 61.8% retracement of the previous rise which was 5 waves up. Now I have called that 5 waves up a 3rd wave. Do 4th waves give deep corrections? Wave 4 follows alternation to wave 2. Wave 2 was a sideways W-X-Y pattern, where Y was a triangle [not on the chart], so 4 is a deep correction and fits the alternation expectation.
Enough greek. 61.8% at 122 needs to hold for wave 5 of 3 up next to start and head back above the 155 high made in the last rally.