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Sunday, October 17, 2010


Tata Steel broke its month-old trend line on 7-Oct.  But since, it seems to have found a new support line as is visible above.


Redrawing trends on the same chart, Tata Steel seems to have not found a new support line, but has found support from a trendline retraced to a 4.5 month old level.  I am willing to believe that this stock will sustain and rise in the coming days, and that the current fall could just be a simple attempt at short-term correction.  Hmm.. 

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