April 25, 2013

TATA Steel chart analysis

  • Tata Steel trying to stay above 20 Day SMA. Previous attempt to stay above this was failed and resulted in a bearish trade.
  • Price also continues to trade below the falling resistance line.
  • Weekly MACD is looking good for bulls But price yet to trade above 5 Week High EMA which is at 320 levels.
  • So Strength only if price is able to trade above 319 - 321 levels. Weakness on closing below 300 levels

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