A bat pattern seem to be maturing on the last part of it's journey, from leg C to leg D.
Sell from 75.948 (approx) for a R/R of 2.08% on T.P 1.
Sell again from 75.948 (approx) for a R/R of 3.31% on T.P 2.
Thanks & good luck in all your trading.
After the initiative selling away from the big uptrend, value price makes a small shifting value. At this point, you need to start looking for the new control of price. I want you to go through the following thinking process when looking at this chart. Value is moving up, the control price is pointing up so we are in an uptrend for the moment. The trading activity...
Being an NRI, you always keep an eye on this one single currency rate → OANDA:USDINR
Based on an interest rate parity level, the Indian Rupee should be around 80-84 range. Still a long way to go...
Security/Script: TataMotors .Equity (NSE India)
Pattern Formation: Inverted Head and Shoulder
Time Frame: Analysis on Weekly time frame
Range of estimation: 240
Pattern confirmation: Neckline breakout
Entry Level: Neckline
Strategy: BUY on dips Near neckline level
Risk: Right shoulder of pattern 160 (-20 Points)
Rewards: 220 (+35 Points)
USDINR seems to have completed a 5 wave move as per ending diagonal pattern shown as 1-2-3-4-5, and also an impulse wave of higher degree shown as (1)-(2)-(3)-(4)-(5). Can expect a fall to 70.41 by 30/08 - 04/09
A move above 72.30 invalidates the pattern.
Wave count in Nifty too supports short term weakness.
MRF seems to have completed its correction and there is an opportunity to go long. The entry, SL and target (can be higher) are shown.
(This is a risky trade as MRF might make a new low before starting the up move. So if the loss is acceptable, then one can try this).
![WRXBTC: [$WRX] The Indian flag will shine in the Crypto market](https://s3.tradingview.com/r/REzTNtEF_mid.png "[$WRX] The Indian flag will shine in the Crypto market")
