Appears that TATA Steel has completed its 5 waves up to INR 701 on April 15, 2010. From there we have seen a steady drop of over 27% till date. The minimum down side target for wave C is INR 463 (wave C = wave A). The 61.8% retracement of the entire rise from March'09 low of INR 149 to April'10 high of INR 739 is at INR 374. Which is the second target.
Targets: 463 // 374
Stop Loss: 594 // 609.
Cheers.
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