TATASTEEL potentially looks good to go back into bull run ,1065 zone is acting as strong support .
1. As 1065 is an acting support we can see that there's transition comming into picture( bull's are making their entry)
2.On 27th a bottoming tail candle with volume spike was seen ( in 1hr) which means seller's are less and bull's taking control + it was at its strong support zone which was tested 4 times before and didn't broke it.
3.Higher highs and higher lows are to be seen, confirms the trend reversal ,also for extra conformation(price level crosses above the 200ema + price is moving above 20sma)
4.Correction can be seen, either in time(consolidation) or in price (pullback).
5. Will take position at HL(pullback) 50% retracement zone as well as prior resistance as an acting support or Breakout of consolidation only if we see bullish sign candles.
6. Target will be between 1234~1245 (for swing).
7.On daily Tf Tatasteel forming #descendingtriangle pattern, can also add up share if breaks the resistance.
8.Do not forget to place your SL.
HAPPY TRADING!!!& I WISH IT WOULD BE HEPLFUL ,PROFITABLE AND KNOWLEDGEABLE TRADE ANALYSIS FOR YOU GUYZ
1. As 1065 is an acting support we can see that there's transition comming into picture( bull's are making their entry)
2.On 27th a bottoming tail candle with volume spike was seen ( in 1hr) which means seller's are less and bull's taking control + it was at its strong support zone which was tested 4 times before and didn't broke it.
3.Higher highs and higher lows are to be seen, confirms the trend reversal ,also for extra conformation(price level crosses above the 200ema + price is moving above 20sma)
4.Correction can be seen, either in time(consolidation) or in price (pullback).
5. Will take position at HL(pullback) 50% retracement zone as well as prior resistance as an acting support or Breakout of consolidation only if we see bullish sign candles.
6. Target will be between 1234~1245 (for swing).
7.On daily Tf Tatasteel forming #descendingtriangle pattern, can also add up share if breaks the resistance.
8.Do not forget to place your SL.
HAPPY TRADING!!!& I WISH IT WOULD BE HEPLFUL ,PROFITABLE AND KNOWLEDGEABLE TRADE ANALYSIS FOR YOU GUYZ