Tata Steel -X-Wave Top @520 -Plan B Sell:Ready to Buy in 280-320Turn the Plan B - You get the biggest sell close from 520 Highs
I have already Put Question Mark for Incompleted Wave -Y that means I was still expecting this fall as suggested when the last idea on Tata Steel was published because I was waiting for Index to crash when it started moving in explosive manner on 20th Sep 2019 on account of Corporate Rate Tax Cut.
Tata's Connection which made me even stronger that Nifty rally which started from 10670 is another corrective & choppy wave as Steel is most likely to finish it's last leg in 280-320 zone.
Tata Steel Last Video Idea - Searching for Bottoms in 280/320
Wave 2 - Larger Degree Range 280-320 -
Ready to Buy the Steel which can shine like Gold as it would cross Dec 2007 High of 902 in months & years to come & travel into uncharted territory. Let time show us the shine.
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Last Time - The Bottom was picked at 190-200 : This is another stock which has emotional connection with me. Thanks
Budget2020
USD / INRUSD/INR appears to be within a sideways corrective. Appears like one more dip before it starts another up move. FM could give a short term boost to INR/Banking today in her budget speech
Nifty is able to save 11900 then there are good chances that We could have happier if we could mark the same bullish counts on Nifty too, but the Nifty’s chart is bit confusing. This may be due to the 2020 Union Budget. The markets reacts to an big event like these in just the opposite way before the event, this is because of sentiment overshoot. You may have noticed that generally before a big event the markets correct. While the options premium says everything about the current sentiment spur, the charts speak the fact. Nifty has to save 11900 on closing basis below this level it may drag itself to 11550 & 11210. However if Nifty is able to save 11900 then there are good chances that Nifty may pullup to 12250, 12400 & 12900 levels.
Holding the 30500 levels the index may move to 31900, 32800 Notice that we have marked a very bullish scenario on the index. We believe that the budget can be a vitamin for the expected move. The index has been displaying strength & have hold on to an important pivot point on the chart. 30500 is a very important pivot for the index, if it holds here then a good move up is possible. Below this a sharp correction may grab the banknifty. The RSI is into positive to sideways zone while MACD has tripped into bearish zone. Holding the 30500 levels the index may move to 31900, 32800 & 33200 zones. 31160 is a minor resistance.