🔎 Tata Motors – Wave (4) Completed? Preparing for Next Rally

📈 Technical View Elliott Wave Count: The stock completed Wave (3) top around ₹950 and corrected sharply into Wave (4) bottom near ₹533. Current Price Action: Price is consolidating above ₹700, showing early signs of strength. Sustaining above ₹740–750 will confirm start of Wave (5) uptrend. Targets (Wave 5 Projection): ₹1,050 → ₹1,200 zone in medium-term (based on Fib extension). Support Zones: Strong support at ₹590 (200WMA), major support at ₹533 (Wave 4 bottom). ✅ Fundamentals Snapshot Business Tailwind: EV segment growth + JLR luxury car demand revival. Strong Balance Sheet: Debt reduction over last 2 years improving valuations. Macro Support: Government EV incentives + global auto cycle recovery. ⚡ Trading View: Tata Motors looks like it has completed Wave (4) correction and is gearing up for Wave (5) rally. A close above ₹750 can trigger strong upside momentum with medium-term target ₹1,050+.