TATASTEEL - GO SHORT WITH A RR OF 1:8TATASTEEL - GO SHORT @ CMP WITH A SL OF 295 AND A TARGET OF 205
Tatasteel
Tata Steel - Long Term HoldingTata steel is approaching their major support area . Level is 200 Rupees . Investors can Open a long positions from this level
Tata Steel major pressure Time....tata steel may provide a good resistance to bears on this date.....or it can even start a bull cycle if economy supported fundamentally....
TATA STEEL : Short Parameters :
Position Size : %1
Risk/Reward Ratio : 2.2
Stop-Loss : 309.50
Target : 271.10
Short term Downside to 460 - Indecisive after thatThere is a 3 drive pattern, hence there is a short term downside to 460 after which , decision can be taken based on the candlestick pattern
watch Tata steelcurrently at crucial stage,if corrective pattern is visible at this price then stay out of this trade but if it breaks this zone then go long for extended 3rd wave iimpulse upto fibonacci ratio of 2.618
bearish bat pattern has also completed so better stay out of this trade
tatasteelDoublebottom
uptrend
now facing major resistance
after breakout or breakdown good move either side
tata Steeltatasteel is in correction period it can spike up as per ABC Pattern completing......or can make 12345 (traingle or diagonal pattern) ) then make upward moment to complete C wave (A Big cycle ABC Pattern)..
Tatasteel on buy sideDouble bottom on strong Support. And bullish
bar on daily timeframe. can give upmove buy on
given levels.
above 487 sl 477
tgt 494-507
Just did little analysis on TATA STEEL I think Elliot correction wave is happening now in Tata Steel .Please give your feedback.
