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TradingSutra
Sep 19, 2022 9:18 PM

TATA STEEL: Correction Long

TATA STEEL LTDNSE

Description

After a five wave rally stock is correcting in a three wave fashion. The five wave rally can be considered as a wave-1 of higher degree and the subsequent fall should be taken as wave-2. Hence,stock is likely to correct towards 100/97 area which is also a 50%-61.8% fibonacci retracement zone, which suits better retracement for wave-2.


Trading strategy: Sell 103 , SL: 106 tgt: 100/97
Comments
BoringTrading
Any update on TATA Steel now as it has hit target and retraced 50%
Ananthib
You are Great
nallujoy
Can we expect upside?
Time1money
Nice
vmstockanalyst
Thanks
engineeringkeeda4898
Good one sir
Thanks 👍👍
viveksaini0785
thanks for the idea
Ananthib
Thanks
MeetSomani
thanks
manthanpatil
Great Setup identified as usual !! Great Analysis !!
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