AbhishekHSinghCMT

Tata Steel- Alternate View (small change)- Be careful@470

Short
NSE:TATASTEEL   TATA STEEL LTD
15
Shortcut keys for charts
Hot Keys for chartist- Life becomes easy can be referred on charting page-in tools section (right hand side vertical panel-- question icon- keyboard shortcuts) or image at this link - http://i.imgur.com/AshoSDZ.png

Indian Chat room
Link below in my signature for Indian chat room-where you can discuss with other passionate people from India region about markets.

Hope all of you understand my situation as I get requests for 500+ charts daily which is not possible for me to do even on a weekly basis but I try my best & Thanks for all your support.

Analysis
Earlier as shown below in the monthly chart from 1048 highs- I took a-b-c-d-e (ending@199. 70 lows) - expected an impulsive rally, but now having an alternate count -which can turn into main count & So modified to A-B-C count with B-Wave as a triangle having a-b-c-d-e internal waves.

As the current move from the 199.70 lows looks doubtful impulsive structure & has very choppy appearance -likely to be an e-leg within the proposed B - wave which has completed or close to complete at current highs of 470.

Traditional Analysis
Trendline passing through 737 & 580 -if extended passes through or can become resistance at current high@470.

Trading Strategy
Bulls should be careful at current stage. As we never jump in trade immediately unless market tells us to do so. Waiting for further confirmation & one of the best trades it could turn out in near future.

Monthly Chart-
Trade active: 10:21 Hrs 22nd Jan2017

Hello Everyone!

A piece of experience- never become bias to trendlines, shapes because it is you want to see it unfolding that way only confirmation is the biggest tool so don't trade in a hurry- always confirm-confirm & confirm before taking a trade.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle
https://twitter.com/TalksWave

Telegram Handle
https://t.me/wavetalks