TATA STEEL-How to catch early reversals and find price targets using Elliott wave !Aug 30, 2022
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It is possible to capture massive moves in stocks using Elliott wave and simple price patterns.
We have used simple Elliott wave theory and were able to capture a 4% move in a single day. You can also use these to identify stocks with momentum for short-term trades.
We have published analysis on Tata Steel on our Twitter handle as on 28th August 2022 below are the details of it.
Tata Steel Hourly chart – Anticipated on 28th August 2022
Anticipated : Impulse up complete and now 3 waves down, wave b done near Ichimoku Cloud, wave c expected to take prices towards 100, invalidated above 109.
Tata Steel Happened on 29th August 2022
Tata steel is following simple Impulse pattern extremely well in which corrective wave (C) was ongoing. The stock moved as we expected. Prices made low of 103.25 which is more than 4% down from our mentioned levels. This early move can be easily identified using wave theory.
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