Tata Steel, sell off very likely (Elliott Wave Analysis)
Updated
Currently we have 2 Hypos for Tata Steel.
Hypo 1 in Red suggests that the Triangle completed at the 586 level (marked by red box) and we have seen a series of nested 1-2-1-2's to the downside from there on.
Hypo 2 in Yellow suggests that the W.(E) of the Triangle formed a Triangle in itself which completed near 567 level (marked by Yellow box).
In conclusion both Hypos are pointing to the downside with suggested downside targets coming in 524 to 515 zone.
SL above 568 level .
Hypo 1 in Red suggests that the Triangle completed at the 586 level (marked by red box) and we have seen a series of nested 1-2-1-2's to the downside from there on.
Hypo 2 in Yellow suggests that the W.(E) of the Triangle formed a Triangle in itself which completed near 567 level (marked by Yellow box).
In conclusion both Hypos are pointing to the downside with suggested downside targets coming in 524 to 515 zone.
SL above 568 level .
Note
Target 1 Level : 514 achieved, book partial and trail rest to breakeven, if things go as expected we can see down move to Target 2 level of 470 : Note
Updated Count : 5 min. : 
Unmatched 80% plus forecast accuracy for 6 years : 50eyes.com/forecast-accuracy/
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.