nirav5

Am I too bearish on Tatasteel Weekly?

Short
NSE:TATASTEEL   TATA STEEL LTD
87 views
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.