Kinnari_Prajapati

TATASTEEL, The following points are confirmation for U-Turn.

Short
NSE:TATASTEEL   TATA STEEL LTD
The following points are confirmation for U-Turn.
  • The volume will decrease if stock wants to change the direction OR, Volume will be average vol.
  • We will see the tail end of last 2 candles after a surge in price (approx. upto 491.8)

The currently TATASTEEL is trading in up-trend, but time-Cycle(iii) is the negatives in time. The previous support can be convert into current resistance 490 nearby.

From footprint of the daily chart will give very clear picture of this stock.
Trade closed: target reached: Thank you

Comments

KP, to my eyes, this is looking differently when i join the upper trend lines that are sloping down.
When you connect the recent tops on a weekly chart, it has clearly broken the trend line with volume confirming inverted double bottom. That puts a tgt of 672 as an achievable target for Tata Steel.

Your thoughts on this one please.
- Ram
+14 Reply
mklives ramgorre
@ramgorre, true, when i connect trendlines it has already broken the long term downward trnedline..
+2 Reply
mklives ramgorre
@ramgorre, even in log scale weekly chart it shows at trendline. in someplave the wick is left out, someplace it is included..weird. below is log scale weekly
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mklives ramgorre
@ramgorre, expecting 520 target
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ramgorre mklives
@mklives, Yea, certainly it looks like a call to me, not short.
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@mklives, let's see what will happen.
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mklives Kinnari_Prajapati
@Kinnari_Prajapati, guess u waited till market falls andthen reply..smart :)
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@mklives, Much better than repeating one-to-one arguments, waiting and haviung patience is best way. Yet, I have everything written and plotted on chart.
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mklives Kinnari_Prajapati
@Kinnari_Prajapati, i was bold to discuss it immediately, even if my call is wrong or right.. shows your reasoning is poor and it proves again and again that u copy paste from moneymunch. good luck
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