Almost 120 points fall predicted on TATASTEEL.
Reversal can be from now. So i suggest to book profit on this stock.
Look this chart was updated by me last month. Almost 120 points fall from my short-selling level.
IOC is in a clear downtrend which gave us a nice bounce to the Kijun sen / 0.5 fib level followed by 2 days of rejection. Will be shorting the futures lot of feb 2020.
Sl = 118.30
Target 1 = 109 , RR = 2.26
Target 2 = Open and trail with daily heiken ashi candles if trade works out in our favor.
Take a step back and try and understand the History that this price has, since 2008.
All the times it could not cross this price, or crossed and failed.
Ideally, it would be a better idea to invest only and only on breakout, with Trailing Stops.
NIFTY TRADING IN MEGHAPHONE PATTERN INSIDE THE BIG CHANNEL(SHOWN WITH RED LINE)... TRENDLINE RESISTANCE COMES NEAR 12450 & SUPPORT IS NEAR 11100
BREAKING DOWN MEGHAPHONE PATTERN WILL BRING BIG CORRECTION IN MARKET...
This can't be confused with Compound Fulcrum, as the height of Head and respective Shoulders is quite similar, also the inclines make them less reliable.
Howsoever, this can still turn bullish but only if it breaks above the Green Trendline, and a break below Blue one, which has a higher probability IMO, makes the case for Bearish continuation.