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.
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
mklives
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@ramgorre, true, when i connect trendlines it has already broken the long term downward trnedline..
mklives
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@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
@Kinnari_Prajapati, guess u waited till market falls andthen reply..smart :)
Trade-Technique
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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.
mklives
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@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
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