Tata Steel Forecast


Tata Steel Daily Chart
Tata Steel - Daily
Tata Steel EOD charts depict that the stock is currently in an uptrend and the trend is likely to continue for sometime as per Gann studies. The forthcoming trend reversal dates are on the 17th and 18th of September 2012. In terms of trading days, counting from the 6th of September 2012, 11, 12 and 14 trading days are important.
Wolfe Wave patterns as seen on the EOD charts do not hold any value as of now since the wave movements are already complete.
As far as Camarilla Levels are concerned, the stock is facing some resistance at the H3 level for this month (377). The H4 level for September is at 393.68 which may be reached once the H3 resistance is overcome.
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Tata Steel IEOD Chart
Tata Steel - Hourly

IEOD charts for Tata Steel depict an imperfect Wolfe Wave pattern. The stock did fall off the 1 - 3 line and now has bounced off the 2 - 4 line. With some resistance near the 1 - 3 line again, the stock is finding it difficult to move up. However, with the Gann trend in view, we could expect a penetration into this level and the trend could take the steel giant towards the 1 - 4 line.






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