nirav5
Short

Am I too bearish on Tatasteel Weekly?

NSE:TATASTEEL   TATA STEEL LTD INR10
86 5 4
Tatasteel has made a recent high near 431. Which if connects with previous highs we find an interesting channel like structure on weekly and monthly chart. Also if my wave counts are correct we are in the 5th wave.

If Tatasteel breaks down of a recent channel move of (5th wave) and fails to make a new high and previous channel works as a resistance then we have seen the 2016 high of Tatasteel.
Comment: Monthly chart for the reference.
snapshot
pls set tgt 1 &
2
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nirav5 anupminj7
@anupminj7, It's corrective wave (a) so on completion we can have upside wave (b), Finally the(c) wave can go down till 290 - 300 level.
Please note that it's a weekly chart so this is path not the actual trade setup.
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@nirav5, ok
Reply
Wow. Bang On for the Move
Reply
nirav5 AbhishekHSinghCMT
Thanks Abhishek.
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