Tata Steel was consistently coming off from the top it made in April 2010, at the levels of 740 odd. It seems to have completed the mandatory 3 waves, a minimum requisite for a correction. Also this 3 wave move ended around the 61.8% correction of the upmove. We have witnessed a sharp 5 wave move up from the point marked {II} on the chart which where we are contemplating an end to the correction. So unless this is some different pattern we cannot see yet, we are headed up from here!
I think you have mistaken this chart for some other scrip, or may be the link you attached is for some other scrip. My analysis is for Tata Steel an Indian company, earlier known as TISCO. whereas this link from Ramki's blog is of TESCO supposedly American Retail Company kind of similar to Walmart. :)
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