This update on Tata Steel is in continuation to the previous 2
updates. I have analysed the multiple time charts with Elliott waves
principle and tried to explain what to expect in future.
Hourly Chart: If this was C wave, and correction was to end with this (read previous post) , this volume spike which is even bigger than any of the the impulse waves should not have happened. The Volumes at ending c wave corrections become low and not increase like it happened here. Refer to next 2 higher time frame charts with this post.
To read the complete report, click on the link below-
http://ruchirgupta.co.in/index.php/2015/05/24/tata-steel-elliott-wave-update-24-may-2015/
Hourly Chart: If this was C wave, and correction was to end with this (read previous post) , this volume spike which is even bigger than any of the the impulse waves should not have happened. The Volumes at ending c wave corrections become low and not increase like it happened here. Refer to next 2 higher time frame charts with this post.
http://ruchirgupta.co.in/index.php/2015/05/24/tata-steel-elliott-wave-update-24-may-2015/
2 comments:
Nice Article Ruchir!!!
Thanks Yogesh Ji :)
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