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.
@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
ashwinkpes
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@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