April 30, 2015

Tata Steel Bullish Month and Bearish Channel

  • Tata steel shows bearish price action in daily chart when price was testing 100 Day SMA yesterday. But there is still hope for bulls as price is above the rising support line in daily chart.
  • Month candle looks bullish so far. Closing near the high's will keep the momentum intact into the next month.
  • Most crucial thing for Tata Steel bulls is the channel resistance line in weekly chart. If price shows weakness at this line the correction may resume.
  • Nifty broadening pattern: CLICK Here

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