🏗 Tata Steel – Wave Completion & Resistance Retest

🔎 Technical View Elliott Wave: The 5-wave uptrend structure (Wave 5 peak ~₹185–190) is clearly marked. Post this, the stock corrected into a sideways range. Current Zone: Price is now retesting major resistance at ₹168–170, which earlier acted as breakdown level. 200-Week EMA: At ₹131, still below current price – showing long-term support intact. Volume Action: Spike during rallies, indicating buyers active at lower levels. ✅ Key Levels Resistance: ₹170–175 (crucial supply zone, where multiple weekly tops formed). Support: ₹150–155 (swing low support), deeper support at ₹130 (200W EMA). Breakout Trigger: Sustained close above ₹175 can lead to ₹190 → ₹210. Invalidation: Close below ₹150 weakens structure. 📊 Fundamental Angle Macro: Global steel prices are recovering with China stimulus + infrastructure demand. Company: Tata Steel has reduced debt and consolidated European operations, but global pricing still volatile. ⚡ Trading View: Tata Steel is at a make-or-break level. If it clears ₹175 with volume, expect a strong post-wave consolidation breakout rally. Otherwise, the stock may continue range-bound between ₹150–175.