March 6, 2012

  • Tata steel futures hour chart shows price breakdown from a consolidation pattern.
  • Daily will test 50 SMA. Day closing below 50 SMA will strengthen bears of Tata Steel.
  • Getting support here may save bulls from a bigger correction towards.
  • Below 50 SMA Price may test 417 levels.
  • Levels mentioned are of Futures.

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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
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