TATA SPONGE UPDATE !!!!!!

As per my earlier post tata sponge faced resistance at 244 which was 61.8% retracement which it has broken with big volumes and closed at 256.25


Please check my earlier post from link given below
http://ritesh-researchreports.blogspot.com/search/label/Tata%20Sponge

Tata Sponge: Tata Sponge has given break out from Inverted Head and Shoulders Pattern and closed at 256.25 with good volumes of about 4 lac shares traded.

The immediate tgt are 290 and after that it is 310

Credits : Chirag Parekh

CHARTS UPDATED BY: RITESH BHANSALI

Nifty Futures : Nifty faced resistance at 4978 which was the previous closing from where it had reversed 3 times in the morning as show in the above Nifty 1 day 1 min chart

NIFTY FUTURES : Nifty future had given trend reversal signal at 4944 at 12..35 pm in candel stick pattern where the green candel was almost as big the red candel in 1 day 5 min chart

Nifty Futures 5 day 5 min : Nifty futures in Channel today it faced resistance twice at channel line at 4986 at around 1.40 pm and reversed from there and at 5003 at 3 pm and came down sharply

Nifty Futures 1 day 3 min chart : At around 1pm future had made bullish hammer with bullish mornng star which gives a signal of reversal in trend it signal to go long !!!

TATA SPONGE : The stock has given buy signal but faces a resistance at 244 which is 61.8% retracement

Inverted head and shoulder can be seen in the above chart

Tgts will given shortly

Credits : Chirag Parekh
Charts updated by Ritesh Bhansali