Tata Steel- An Ending Diagonal or Traditional Wedge Pattern in the 5th Wave- is always an Elliotticians delight. It looks like we have completed 1st tranche of the fall from 394.65 to 369.20 - Likely- TS will bounce back & it could go deep on upside possibly in the range 387-390's but make sure enough that it should not cross 395-which is the top.
Once bounces back to the desired zone & most important- it should be a corrective rally- as soon as we get any hint -we will come back to save our baby from crying further.
Regards, Abhishek H.Singh, CMT
Trade active
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12:30 Hrs- IST- TS took A U-Turn exactly from 267-268 Zone -Which I have been talking about. Bang On Target.