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tata steel

 
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Author tata steel
ajitg76
White Belt
White Belt


Joined: 08 Dec 2009
Posts: 21

Post: #1   PostPosted: Thu May 19, 2011 11:19 am    Post subject: tata steel Reply with quote

Significant tops and bottom have recently been double tops and bottoms for TISCO
And significant tops have also been associated with a complete drying up of volumes to
an extreme low as shown on teh attached chart. So ehn prices reached the 2010 highs
again this year initially volumes did show up but as the right shoulder of a H&S distribution
formed volumes disappered confirming the structures true nature. 577 is the neckline of
the distribution pattern and we closed below it yesterday. The short term target would be
500. But the double top could be a sign of a deeper bear trend here.



tisco chart.png
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