vidursaini

TATASTEEL - A Possible Head and Shoulders Rejection

Long
NSE:TATASTEEL   TATA STEEL LTD
A hanging man at the end of a Head and Shoulders pattern could be a sign of a breakdown failure and hence we can see some possible upside in the coming few days.
I'm favoring the long side.

Comments

Hi Vidur,
The stock has a really good strong base near 540 so i believe it shd not break that and as far as the hanging man is concerned, it will be more fruitful when there is an uptrend. Its true that the PA indicates good buying .It can be a good double bottom pattern but i believe it will be more fruitful to buy ard 540 for tgt1 586 (on fib levels) or 590 (200 ema).................. let me know if u want me to share the chart.......appreciate ur comments as well.............
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