From 500+ levels in June to August, TataSteel has tumbled to 200 on 25 Aug, 2015. The descent shows a classic successive lower top lower bottom formation till the end of March, 2015. Also, the volume has been consistently increasing on each dip. After reaching a low of 311 on 27 March, 2015, the prices broke out of 350 level with a considerable volume. But the uptrend did not sustain and went below 350 to touch 200 on 24 and 25 Aug, 2015. The volume since 12 Aug has often been twice the 20 day average volume (14 million vs average of 7 million). It appears that accumulation has once again started. Observing the monthly charts, August candle is a squat candle where the prices did not close near the bottom and volume is very heavy. This gives an indication that the selling trend could pause. Need to observe trends in other sectors / stocks. Positive comments appreciated
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