Hi friends,
Looking at Tatasteel chart ,The stock has a potential for a big move
Lets see the chart to figure out its waves.
From the high of 435
january 2014 we saw
a abc correction till 336.
And then we had a impulse
towards 393 finishing a wave
and then it did again a abc
correction where b turned
out to be a triangle as
shown in the chart with
white lables.
Now from the low of 340 the stock has again started a upmove which would gain
strength above 359 and would have potential to scale up to 395-400.
So we have a long trade here with stoploss at 340 for a target of 395 once it trades
above 359.
Regards
Rish
Looking at Tatasteel chart ,The stock has a potential for a big move
Lets see the chart to figure out its waves.
january 2014 we saw
a abc correction till 336.
And then we had a impulse
towards 393 finishing a wave
and then it did again a abc
correction where b turned
out to be a triangle as
shown in the chart with
white lables.
Now from the low of 340 the stock has again started a upmove which would gain
strength above 359 and would have potential to scale up to 395-400.
So we have a long trade here with stoploss at 340 for a target of 395 once it trades
above 359.
Regards
Rish
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