ashwinkpes
Short

Tata Steel - Double top - Short -Target 446 SL- 492.75

NSE:TATASTEEL   TATA STEEL LTD
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Tata steel formed double top . top1 17-March-2017 price 508.75 , top 2 7-April-2017 price 506.35. it has broken the neckline support. May try to retest the neckline but at end will surely touch target of 446. Keep stop loss of 492.75 and go short.
Apr 18
Trade closed: target reached: Target almost achieved . Closed Trade today @ 448
but now at the 5hour chart 460 is the support
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ashwinkpes nalinakshi
@nalinakshi, Hi, yes saw your view too .Nice we have similar views.. there is a possiblility for it to be also forming a eliott wave from 11-1-2017. have a close look you might spot it. So now it might make a retracement until 479-485-490. hence I kept a wide stop loss of 492.75 and strongly feel it must touch 446-448 zones before May
Reply
ashwinkpes ashwinkpes
@nalinakshi, Hi, yes saw your view too .Nice we have similar views.. there is a possiblility for it to be also forming a eliott wave from 11-1-2017. have a close look you might spot it. So now it might make a retracement until 479-485-490. hence I kept a wide stop loss of 492.75 and strongly feel it must touch 446-448 zones before May series end
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i have also posted the same view
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