December 19, 2012

TATA Steel chart analysis

 
  • Tata steel is breaking above a falling resistance line in weekly chart.
  • But the stock is also moving towards crucial resistance levels like 50 Week SMA and Weekly Ichimoku cloud. For the up move to continue price must close above 50 Week SMA and break into the cloud.
  • For the long term trend to change price must sustain above the weekly cloud.
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