AbhishekHSinghCMT
Short

TataSteel- Kissed the Box with Bad Luck Gap & Good Luck Sell

NSE:TATASTEEL   TATA STEEL LTD
491 views
Is wave -ii done at day's high@417. 50 -Kissing closer to the box which was shown in previous update shown below

Dropped from the box in today's session & made day's low@411.50. Can it continue down?- short term trade if taken book profits & we will comeback again.

Click the chart

Related Analysis of TataSteel attached for reference
Trade active: 14:44 Hrs 29th Nov2016

Last Price@409.50

32 bucks back 2 back in Tata Steel- isn't that amazing.
Trade active: 10:40 Hrs 30th Nov2016

Last Price@406.50

Likely a bounce could be expected in the range 410-411 so look to book profits in sells- if you are holding the same at current levels.
Trade active: 12:35 Hrs 30th Nov2016

Last Price@412

Boom - Bounced as expected from 406-407 zones.
Trade active: 12:41 Hrs 30th Nov2016

Last Price@414

We got the candle as shown in oval. I love green candles - jumped as expected from 406- 411+

Trade active: 10:35 Hrs 1st Dec2016

Recent High@418.50

TS could fall again to 405-406 zone as the gap has acted as resistance -I was expecting little upside to 420-422 zone, but it seems TS is in hurry for downside.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
https://twitter.com/TalksWave

Comments

going to buy 400 pe around 420 spot ?
Reply
@ajayww2, 418.50-its top for the day- did you buy 400pe
Reply
buddhas AbhishekHSinghCMT
@AbhishekHSinghCMT, @AbhishekHSinghCMT, Bro@This time i feel the downside target is big when it breaks 397. My target would be 368 and 351
Reply
Can another short be taken near 817 - 820 (Box) ?
Reply
@nirav5, You mean 417-420 Box - Let me check
Reply
@nirav5, Not here -likely it will attempt to go in the gap zone which happened while falling from 441 to 380 --roughly zone of 421-423 could kiss & if holds then putting stops of recent swing high one can take sell positions.
Reply
nirav5 AbhishekHSinghCMT
@AbhishekHSinghCMT, Thanks man.
Reply
@nirav5, Welcome
Reply
There comes 0.238 retracement near 405. Booked some profit. It's all good morning!
Reply
@nirav5, Awesome
Reply
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