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Sunday, 18 January 2015

TATA Steel: 18 January 2015, Sunday, 1.55pm Singapore Time

TATA Steel: 18 January 2015, Sunday, 1.55pm Singapore Time
Chart courtesy of Chartnexus.com

Attached above is the technical analysis of the stock TATA Steel that is listed in the India Stocks Market.
All technical illustrations as per on chart above.

TATA Steel executed a large scale fake break out as illustrated in the RED BOX above.
India financial markets will follow this kind of bearish formation soon, with TATA Steel acting as a leading indicator. The above price structure is very bearish in nature. As TATA Steel is a pretty reliable leading indicator, India stocks market has a high chance of transiting into a market that is very bearish in nature.

Note also that based on TATA Steel as above, India economy is slowing down and going downhill now.

Be cautious.

Donovan Norfolk Technical Rating:

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