TATA STEEL (512.55)
THIS STOCK NOW LOOKS WEAK ON THE DAILY CHARTS. JUST CLOSED BELOW THE SYMETRICAL TRIANGLE WHICH FORMED IN MID JUNE. MAJOR SUPPORT IS AT 462 FOR THIS STOCK. AND 535 IS THE HURDLE TO CROSS FOR THE BULL. CCI IS THE ONE INDICATOR WHICH IS GIVING SELL SIGNAL FOR THIS STOCK, NOW THE CCI VALUE IS AT 0 AND POINTING TOWARDS BELOW THE ZERO VALUE. IN THE WEEKLY CHARTS STILL THE CCI IS BULLISH. IF IT BREAKS SERIOUSLY THEN I SEE THE LEVELS OF 462-455 AND 425-416. IN WEEKY CHARTS RSI IS STRUGGLING TO STAY ABOVE THE 50 MARK. IN THE COMING WEEKS THE STOCK WILL LIKELY TO TRADE WITHIN THE 575 AND 455 MARK. ABOVE 575 LEVEL THE STOCK WILL KISS THE LEVEL OF 670, AND BELOW THE 455 MARK IT'LL LEAD TO THE LEVELS OF 400-375. BY SEEING WEEKLY CHARTS I RECKON THIS STOCK WILL BE IN RANGE BOUND.
THIS STOCK NOW LOOKS WEAK ON THE DAILY CHARTS. JUST CLOSED BELOW THE SYMETRICAL TRIANGLE WHICH FORMED IN MID JUNE. MAJOR SUPPORT IS AT 462 FOR THIS STOCK. AND 535 IS THE HURDLE TO CROSS FOR THE BULL. CCI IS THE ONE INDICATOR WHICH IS GIVING SELL SIGNAL FOR THIS STOCK, NOW THE CCI VALUE IS AT 0 AND POINTING TOWARDS BELOW THE ZERO VALUE. IN THE WEEKLY CHARTS STILL THE CCI IS BULLISH. IF IT BREAKS SERIOUSLY THEN I SEE THE LEVELS OF 462-455 AND 425-416. IN WEEKY CHARTS RSI IS STRUGGLING TO STAY ABOVE THE 50 MARK. IN THE COMING WEEKS THE STOCK WILL LIKELY TO TRADE WITHIN THE 575 AND 455 MARK. ABOVE 575 LEVEL THE STOCK WILL KISS THE LEVEL OF 670, AND BELOW THE 455 MARK IT'LL LEAD TO THE LEVELS OF 400-375. BY SEEING WEEKLY CHARTS I RECKON THIS STOCK WILL BE IN RANGE BOUND.
posted by Naveen Pantera at 5:31 PM
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