The price levels of Tata Steel have moved above the bull flag but remain stall at the Long term sloping trendline. Any close above 716 will negate the Head and Shoulder pattern formed where bears might get stopped out and can act as a good long entry for a target of 735 with a stop at 710.
strong resistance there and i think i can short there
there are couple of dozi and hammer there and this shows i decision there
and i don't think the stochastic is giving us right direction
as it is in overbought condition
TATA STEEL was looking good till mistry's mytery. Now that all the TATA stocks are dragging and weak markets before US elections and very Crude Oil, markets may not witness any rallies. Using this TATA group may be chosen as scapegoat. 379 is the trend support.below which we can see 350 levels.Bounce from the support zone can be used as a buying opportunity only...
It is been observed that the price action formed an important harmonic pattern called Bat Pattern indicating bearishness and a counter trend trade opportunity. It is a low risk trade as the price action has already reached to the previous resistance levels at 406. Now if the price action breaks and close above the previous resistance levels of 406 then we shall...
It is been observed that the price action has previously breaks out from a channel and then retrace back to the previous channel trend line, forming a V shaped signaling completion of retracement and now the price action shall further move down toward 340 target levels decided on the facts:
1. Measurement of the breakout channel and
2. Previous Resistance levels...