September 29, 2015

  • Trend of tata steel remains strongly in favour of bears But for bulls there is hope in 190 levels. Month chart shows price holding on to this level so far But there isn't any signs of strength yet which is a sign of worry for bulls.
  • There is positive divergence but the bounces are small and new lows continues to be formed. 190 levels if not protected will be big negative event for bulls of Tata steel. 


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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."
—Jesse Livermore