February 7, 2013

TATA Steel Chart analysis

 
  • TATA Steel continues to fall down in a channel.
  • Price has fallen below crucial moving averages like 20 and 200 day SMA. Sustaining below 200 SMA will further strengthen Tata Steel bears.
  • Price is testing Golden ratio. If this level does not hold then next possible support levels are at 387 and 78.6% Fib level.

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