A rebound from the trend line support coupled with the fact that the RSI is just short of being overbought suggests, further gains could be restricted around the upper bollinger band seen around 5263 levels.
This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
It is been observed that the price action formed a 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 continue to...
Tata Steel is in an uptrend and is correcting now. It seems to be on the verge of completing an a-b-c correction. It's likely for an impulse to start from here in the upward direction which could target the monthly chart trendlines.
Tata group's flagship companies are in cross hair because of its UK connections. Tata Steel is the example of ambitious plan going awry and Tata Motors is going to be questioned because of its Land Rover automobiles.
Tata Steel
Selling metal companies was the fundamental trade for last couple of years. Nobody was sparred. Steel glut was/is obvious - thanks to...
According to its monthly chart, the index has made all time low of 1500 in the month of Feb 16 and from then it responded well and positive.
I believe it will continue its positive trend due to below top 3 reasons,
1. Globally Metals are positive
2. Metal Stocks like JSW Steel and Tata Steel have been moving positively
3. Structure support confirmation on...
Tata steel out of down trend channel and done with retesting of it, one can be bullish till the time in the current uptrend channel.
levels for trade on the chart.
