kalyanganguly

Tata Steel - Bullish trend reversal on weekly timeframe

Long
NSE:TATASTEEL   TATA STEEL LTD
Note: This is for educational purpose only.

On weekly chart, Tata steel was making lower highs and lower lows. The previous lower high was broken with momentum. RSI indicates overbought. There seems to be a consolidation before next up move. This is a positional view.

Comments

Nice clean chart .. SO next question, how do you approach it

- Jump on the rising train ?
- or wait for retracement around 510 ?
Reply
kalyanganguly thakurpiyush1
@thakurpiyush1, thanks for your comments. Considering the overbought RSI, I would buy 25% shares now and rest at retracement as you mentioned.
Reply
thakurpiyush1 kalyanganguly
@kalyanganguly, Great, thanks
Reply
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