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 256.25Please 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
Ritesh Bhai,
ReplyDeleteThanks for your post on TSI. I was looking for some valid reason to buy into this stock and I think I've found your analysis to be great.
BTW do you track madras cements?
If not, can you tell me how to atleast plot these charts and decide about the key indicators like breakout and targets? Iam a student so i am just beginning to learn TA and FA
~ Srinivas
This is not an Ideal Inverted Head & Shoulder pattern....its Volume criteria doesnt meet the ideal requirement.
ReplyDeleteDont Try to identify patterns which does not seems to exist....
By Robert Cacco
Regards,
Mihir Kansara