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Tatasteel_short

Tata Steel | Double TopDouble Top pattern spotted in Tata Steel . Pattern is confirmed as price has broken below 500; neck level retesting looks to have done already. Pattern suggests a target of 485. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:TATASTEEL
by AkhilSuryaFS
Tata Steel, sell off very likely (Elliott Wave Analysis) Currently we have 2 Hypos for Tata Steel. Hypo 1 in Red suggests that the Triangle completed at the 586 level (marked by red box) and we have seen a series of nested 1-2-1-2's to the downside from there on. Hypo 2 in Yellow suggests that the W.(E) of the Triangle formed a Triangle in itself which completed near 567 level (marked by Yellow box). In conclusion both Hypos are pointing to the downside with suggested downside targets coming in 524 to 515 zone. SL above 568 level .
NSE:TATASTEELShort
by NeeravYadav