TATASTEEL—How Much DOWNSIDE?

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TataSteel Analysis:-

• Chart no 1 Showing Tatasteel has near its 50 DMA, but the question is that will it hold it there.

 

• Chart No 2 you can see the TATASTEEL weekly chart and it showing that the FALL STARTED from the EXACT level from where previous FALL STARTED. And as we see the Strength of Previous Fall its very Strong. So this Present Fall also seem to go to some extent as a CORRECTION of its RALLY from 195 levels.

 

• FIBONACCI in Chart 3 showing that this 38.2 % retracement comes at 344 and 23.6 % at 379 … so can we EXPECT these levels in coming days.

 

 

• Above Hourly Chart Of Tatasteel showing that if TATASTEEL comes around 405 then THERE could be good SELLING pressure and this can be good CHANCE to ENTER SHORTS those who MISSED it.

 

• But PROVIDED it COMES there with SOME BOUNCE.

 

 

UPDATE:- (14 JAN 14 --12.10 PM)

• Tatasteel REACHED 1ST Fib. Level of 23 % which was around 379. As we expected in our article above.

For Further Reading,

Stocks Analysis, TataSteel ANALYSIS