Tata steel has had a stellar runaway in the past 3 months. Considering the march lows of 240() and recent highs of 640().
I prefer to use 3 hour time frames to understand the broader trend of the stock. It seems that TATA STEEL is preparing for its corrective wave 4 for the time being. Wave 4 at max corrects till 38.2 % fib levels. Considering the September lows of 340 and recent highs of 640, the possible levels comes down to 570 and 520.
Wave 4 usually corrects with the price or with time. 520 seems to be an interesting price to accumulate the same for the long term investments.
Wave 5 is pending :)
I prefer to use 3 hour time frames to understand the broader trend of the stock. It seems that TATA STEEL is preparing for its corrective wave 4 for the time being. Wave 4 at max corrects till 38.2 % fib levels. Considering the September lows of 340 and recent highs of 640, the possible levels comes down to 570 and 520.
Wave 4 usually corrects with the price or with time. 520 seems to be an interesting price to accumulate the same for the long term investments.
Wave 5 is pending :)
노트
Tata steel saw a major fall today of 5%!! It made a low of 580, which is also a 23.6% fibbo level. Stock might bounce a bit to further see the selling to 535 odd levels. 535 will play a crucial role in determining the long term trend of the stock.
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면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.