Tata Chemicals: Elliott Wave Analysis
![Image](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixCHaXvaVjkJUNomIn-ChSeMQRvMaMg_191G_2vJ5HRWihEH4E5KYHKR2SrMo99ZTZkG8b3bszG7AhIlTRqC31tkvK4lcH9RXxSpYycgdNr7f8wkgD_NbnRRKJtFDBF69C-RtpP7l4tgL-MH6XWS_nA7DdNgs5r38FkHcbKnGqjgpf0iGK2D3DWSAWZQ/s16000/tc.png)
Tata Chemicals 60 mins chart The above chart makes us understand that the trend is down as it is forming a lower highs and lower lows and moving precisely in a falling channel. Currently it is hovering near the resistance of the channel and soo there can be a reversal which can drag prices way lower. As per Elliott Wave, prices are moving in a corrective pattern (a-b-c) where wave a was a complex pattern and wave b was easier to identify and wave c is unfolding. This wave can lead prices to the level of 780-760 levels. The summation is Tata Chemicals is negatively poised and can falter till 780-760 levels over short to medium term.