Tata Steel - Facing Selling Pressure (At Resistance)

It is been observed that the price action is facing resistance at 615-620 levels, indicating a further fall to the support levels.

T1- 600

T2- 590

SL - 620

Trade active

Comment:

Stoploss Revised to 626 levels.

Comment:

Tata Steel at near resistance, if closes above it on hourly chart then it shall further reach to 640-45 levels at max which is the next high time frame resistance and another turning point. Trader who are holding TataSteel short position, here is what they can do,
1. Reverse (Buy) position once price action goes above 628 levels and get 10-15 points rally and then short it again at 640-45 levels.
2. Hold for the closing of today and buy a Ce for hedge.

Trade active:

Still Holding resistance strongly and now dipping down.