AbhishekHSinghCMT
Long

Tata Steel - Searching for Bottoms from 280-320

NSE:TATASTEEL   TATA STEEL LTD
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+

Disclaimer
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.

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
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Excellent Analysis Sir
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is second idea of plan A is executable now sir?
Reply
No, patience is required.
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@AMBRISH, True!!!
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Thanks for update guess will have to go with second part of Plan A, or do we wait for results on Nov 6. Regards
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@TURTLEDR, Better we wait for 6th Nov 2019.
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TURTLEDR AbhishekHSinghCMT
Reply
Thanks sir for this idea. What should be our strategy if doesn't break 320 for 280-300.?
Reply
@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.
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Sir I not getting mail
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