H&S Pattern gets activated once TS starts falling below 386... Giving us target of 379-380 as conservative target. Once Rising Trendline gets broken. Take Short only below 386- Key Level.
or
We continue with our previous post- "Tata Steel- Beautiful Bookish ElliottWave"
Regards,
Abhishek H.Singh,CMT
Current Price- 382.
T ata Steel- follow up- Kissed 383-384 zone. Here onwards -we will be little careful as going below 378 back -will confirm that move from 360-362 zone is almost done.
Regards,
Abhishek H.Singh,CMT
As per previous update- Current Price-380.50 --"Tata Steel- Minor d-leg in process. Above 378.50- looking for 383-384.
Trump card opens to make me win the losing game.
Regards,
Abhishek H.Singh, CMT
14:35 Hrs-IST-16th Aug2016
Current Price- 377
As per morning update - "Tata Steel-still top is not in place"
Yet to complete minor d? leg --can take Tata steel Above 378.50 to 383-384--In an unfolding triangle at one degree larger.
Trading Strategy- Above 378.50 -TS could complete its internal leg in the zone 383-384 slightly below 384.50- The Killer...
The price movement in Tata Steel is indicating at present moment that top is still missing as price has not gone below 360 in recent fall-which I was keen.
Trading Strategy- 1) Any Move Above 378.50...we should look TS to travel in the range of 382.50--383.50.
Trading Startegy- 2) Any Move Move above 384.50- One can look for the zone 389--390 & Above 390...
Tata Steel ---if breaks the channel...downside ...there is leakage ...so don't go long ....going longs will be advisable only above previous swing high@382.50....or if channels get broken downside then 360--362 can be the target zone...
Go long if it starts moving above 382.50....but be careful...it could go till 384.50 --make double & fall....think with...
From Previous Update---"Tata Steel-Killer Top@34.50" ----Tata Steel...slips from 382--383...as expected ....to lose only 2 Rs as Risk with stop above 384.50--Our Killer Top....
It Indeed is favouring the idea of Killer Top....
Currently Runnning at 375...Current Low-374.30.....7 Rs Down....Bang On... Now Look Left & Trade Right....There is previous resistance...
TS once starts going below the rising trendline & sustains below 376--377....It will confirm that It wants to go down...well ....There is a risky call as well but someone who can take the loss of amount equal to current high--384.50 & Above ---which is our killer top--they can take short between ...382--383...losing 2 Rs or gaining big...below 377--376 zone....
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Just missed 390's...From the previous update--"Tata Steel--My Baby --Looking for 390's above 375"....As soon as it crossed 375...TS headed in the direction of 390's but fell short & made a top@384.50--which is similar top as on 6th May 2015-- "The Killer Top"
The move from 199.70 -Sep 2015 low's to current highs till 384.50 was decent trending move--If at all TS...
After two weeks of correction, this week Tata Steel has broke out and closed above 378 levels and confirmed the bullish trend. Now, it will continue its uptrend and will reach to 430 levels which is the next resistance point.
Tata Steel --is my baby..started my 1st report with this stock...
L-S (Long First Above 375--Short Later in the zone 395--400)
Tata Steel- when I picked this stock in Dec 2014..it was trading@435..As per my 1st report -I visualised that Tatasteel(TS) was forming a triangle since 2008 Fall- An elliotticians charm...4th Waves Triangle are wonders..I took short in...
