Ramki has been invited to speak at this important event in Mumbai, India, on 1st May, 2015

Jun 162009
 
Tata steel in fourth wave triangle

Tata steel in fourth wave triangle

Tata Steel has come a long way from its lows, and after a steep third wave rally that ran 300% of its first wave, the stock has corrected 23.6% as a fourth wave triangle.  Look out for any sharp break above the upper boundary of the triangle because that will signal the start of a fifth wave to reach 525-30. The only caveat is because we saw that the fourth wave is a complex pattern (suggesting a triangle) that could abruptly change ts pattern, we should be on our guard for a break below 415 again. Finally, because the third wave has already extended, the fifth wave will develop only to normal lengths, and it should be fairly easy to recognize a top as it forms. That should give us more trading opportunities later on.

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