Sunday, 21 April 2013

Chart Update: Tata Steel

TATA Steel Chart:


Daily and weekly chart are oversold with positive divergence on daily chart. Share closed above 5dcema. Weekly and monthly trend is still sell on rise. 

Resistance: 

  • Trend line resistance is at 303.5 
  • 5dhema is at 303.3
  • 5wlema is at 305

so it can be concluded that 303.5 - 305 is an area of resistance. Conservative buy can be initiated on close above 305 with very strict sl. 

So, plan your trade accordingly.


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Happy Trading. 

DISCLAIMER:
All the views and contents mentioned in this blog are merely for educational purposes and are not recommendations or tips offered to any person(s) with respect to the purchase or sale of the stocks / futures. I do not accept any liability/loss accruing from the use of any content from this blog. All readers of this blog must rely on their own discretion and neither any analyst nor any publisher shall be responsible for the outcome.



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5 comments:

  1. HARISH TAHKKAR21 April 2013 at 20:33

    Excellent chart views for trading purpose.

    ReplyDelete
  2. PANKAJ SHAH22 April 2013 at 23:20

    http://4.bp.blogspot.com/-tv1teQlxJyA/UXYXtkxBugI/AAAAAAAADKU/mOh6DMspMOo/s1600/tata%2Bstl%2Bmonthly%2Bchart%2Bas%2Bon%2B22.04.2013-713897.PNG

    http://3.bp.blogspot.com/-kC6u_0x7rtk/UXYXuNqCHDI/AAAAAAAADKg/EwoKeI_Z7vE/s1600/tata%2Bsteel%2Bweekly%2Bchart%2Bas%2Bon%2B22.04.2013-715789.PNG

    ReplyDelete
  3. Parimal25 April 2013 at 00:46

    Hi
    i highly appreciate your charts. Tata Steel: it would have been better to add EW levels, and to my view there is a falling wedge pattern visible. thanks for nice work. see you at JN

    ReplyDelete
    Replies
    1. Pattern Trading5 May 2013 at 19:40

      Hello Parimal,

      Thanks for kind words .. will try to add elliot :)

      Delete

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