TATA STEEL LTDShort
Minor degree Wave 4 likely in progress till 600-610
Wave 4 likely to be a flat. a, b of minute degree completed on friday. Now the stock might be heading to 610 to complete c wave.
Overall wave count- Minute wave c of Minor wave 4 of Intermediate Impulse wave 1 under progress.
There could be another possibility which is that Minor Wave 5 of intermediate wave 1 has ended at 649 and Intermediate wave 2 is in progress which probably end at 550-560.
My opinion is that price is likely to retrace from 600-610 to go for 694, but if price breaks 600 then the second possibility might be in action.
Overall wave count- Minute wave c of Minor wave 4 of Intermediate Impulse wave 1 under progress.
There could be another possibility which is that Minor Wave 5 of intermediate wave 1 has ended at 649 and Intermediate wave 2 is in progress which probably end at 550-560.
My opinion is that price is likely to retrace from 600-610 to go for 694, but if price breaks 600 then the second possibility might be in action.
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