TATASTEEL- SHORT TERM BULLISHNESS BUT MORE PAIN IN LONG TERM ?

The script lost close to 50 percent of its price from the beginning of this year. After falling near to 250 levels prices have been consolidating with an upward bias. If the upper end of the current consolidation range is broken the prices can test 340-360 on the upside. However it remains to be seen whether the prices will be able to close above these levels which is important in terms of long term price action and also as per GANN. If the lower end of the current range is broken prices can test 180-160 levels which is a long term demand zone for this script.

Note:

The first version of this analysis appeared in the educational blog of Center for Research in Asset Markets and Economy (CRAME), Christ (Deemed to be University) Lavasa

DISCLAIMER

The content provided in CRAME blog is for educational purposes only. CRAME or the analyst(s) do(es) not assume any responsibility for the financial decisions/actions made on the basis of the analysis presented in the blog.

Analysts

Prof. Binu P Paul PhD
Prof. Soumya V ACSI

Trade active:

Momentum support in upmove. Those in long trade book part profits and trail the rest