Let the rising trendline be broken to get small short call may be till 380-382 levels but be careful- iv-wave is still running post going into 380-382 -wait for a bounce back to same 395-399 to fall again or if TS suddenly creates more pressure then probably -we will place 395 as the top.
Going below 378- TS will be in pressure atleast for the zone -373-374 & if it goes below 373- d-leg shall get confirmed-giving us clue that "e-leg is in process".
Regards,
Abhishek H.Singh,CMT
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...
ON THE UPTREND WE HAVE SPINNING TOP AND ITS SIGN OF PRICE REVERSAL SO WE TAKE SHORT POSITION IN DIS STOCK. ENTRY STOP AND TARGETS GIVEN ON CHART.
IF YOU AGREE WITH MY VIEW THEN HIT LIKE I REALLY APPRECIATE THAT FRIENDS.
TRADE WITH CARE
REGARDS
KING999
