Tata Steel - Searching for Bottoms from 280-320

Correction Stock is trading in 100's -have wrongly used 11000+ in the video (11000 is for Benchmark Index -Nifty)- should be taken as 1000+

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Trading Strategy

Possible dip below 320 can support at 280's -300 - getting dip & bouncing above psychological level of 300 shall be next clue for upside beyond 1000+

Plan A
Buying in 280-290 Strict stops below 280 for Target 400-410 & Above 400 for 510-520

Plan B
Buying above 520 for 645-650

Plan C
Buying above 650 for 750 & 1000+

Plan D
Buying from 280-300 if holds above 280 (should not move below 280) expect 1150-1200 as the explosive target upside which wave 3 distance -normally travels 161.8% of wave 1 -

Current case :
Wave ((1)) Distance = 748 - 188 = 560
161.8% of 560 points = 560 * 1.618 = 907 approx
Measuring 907 from yet to bottom Wave ((2)) which could be 320 or close to 280 downside so ... (907 + approx 280/320 = 1150 to 1200 zone) which gives upside objective of 1150-1200 target mentioned in Plan D above- which is minimum Wave 3 Distance it can travel next as per the books.

Thanks for watching the video & your support.

Nov 02
Trade active: 17:15 Hrs / 2nd Nov 2019

Last Price@400

Stock not willing to come down in the desired zone & crossed 400 mark - is it too late !!!
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Excellent Analysis Sir
is second idea of plan A is executable now sir?
No, patience is required.
@AMBRISH, True!!!
Thanks for update guess will have to go with second part of Plan A, or do we wait for results on Nov 6. Regards
@TURTLEDR, Better we wait for 6th Nov 2019.
Thanks sir for this idea. What should be our strategy if doesn't break 320 for 280-300.?
@gameofmoneys, Wait for correction in the stock if Nifty Index holds below 12105. Going above 12105, would give us a clue that 320 won't break on downside & you need to position yourself accordingly.
Sir I not getting mail
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