January 31, 2011

Ascending broadening wedge of TATA STEEL

  • Daily chart of Tata steel shown with an ascending broadening pattern.
  • Price is trading close to its support line and near 50 day moving average.
  • So Break of support line will push tata steel towards its 200 day moving average.
  • While getting support here and trading above 50 DMA will favour bulls in the short term.

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