TataSteel- Looking for a bounce from the 380-382 zone

371 4
380-382 zone for Tata Steel important as it exactly landed on the trendline (ii-iv) wave having 377 as crucial level- any move below that could put TS into more pressure.

Trade active: 11:00 Hrs 16th Nov2016

Last Price@390.75

Entered in TS between the range 386-387 likely looking for the zone 400-405 where TS will face its first hurdle which is 38.2% retracement zone of the fall from 441 to 380. We will likely exit above 400 & shall wait to see how the market reacts post a 400 mark.
Trade active: 11:18 Hrs 16th Nov2016

Last Price@388.75
We are still above entry zone of 386-387

Let us exit for time being & wait for buying opportunity in the zone 381-382 holding that 380 zone- as corrections are tough to trade as Nifty if fails to hold 8150- it will be better we exit TS & wait
Trade active: 11:30 Hrs 16th Nov2016

Last Price@389

If one can take risky buy - with strict stops below 386 - If one can afford that stops then go ahead else skip the move
Trade active: 11:35 Hrs 16th Nov2016

Last price@388.50

Avoid Taking Risky Call as well
Trade active: 11:57 Hrs 16th Nov2016

Last Price@388.65

Half an hour has passed & TS is moving in range of 387-389

TS is doing time wise correction not going below 386-387 zone & going above 392 -it is most likely travel into the 400-405 zone
Trade active: 12:45 Hrs 16th Nov2016

Last Price@394

At 395 it is retraced 23.6% so likely let us book profits as Nifty extended to its day's high in the zone 8190-8200

Trade active: 14:21 Hrs 16th Nov2016

Last Price@396

Just missed because of Nifty Puzzle. Apologies. As expected, it is close to the zone of 400 band.

But likely that is resistance zone -so be careful if you hold any long positions.
Trade active: 08:39 Hrs 17th Nov2016

Last Price@392.75

Going above 395 likely it goes into the zone 400-405 zone as expected earlier
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Great Abhishek happy for you making good profits...
@piptamil, Thanks & Welcome
that was a good one....Abhishek
@Manish Kumar, Welcome Manish
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out