TATA STEEL 15/3/2021 BEAR MOVE!! for NSE:TATASTEEL by shivamishra023

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supportandresistance trendline headandshoulders

1.On daily time frame the green trendline shows Rising wedge you can have a very clear view on 1Hr time frame.
2. Also there is a HEAD & SHOULDER pattern formation which atually tested the support 710 strong support and moved upward and continuing the downtrend.
3.On 15/3/2021 it can open gap up, test the 723 levels and should start the gap up filling procedure making very bearish and may breeak the support if gets good volume .
4.LEVELS TO NOTE
A. Gap up level
B. 723 resistance level sellers may show
activeness.
C. Target to be kept keeping the volatility in
mind T1=711 to 710 , T2=704 to 702
T3=696 to 694

-SHIVAM MISHRA
MGB

Comments

any views after todays move.

rahul91091

@rahul91091, keep following me will post analysis today

shivamishra023

@shivamishra023, i have shorted @622 fut...should i hold or exit.

rahul91091

@rahul91091, as per the charts when the market will open you will be facing a loss as tata steel is showing inverted head & shoulder pattern and i m 70% about the market to open bullish but it wont be bullish all day in starting 30-40 miin we can say ..... you can do one think wait for tata steel to reach nearest resistance and wait and watch whether the candles are showing any reverssal sign if they show wait for market to come down a bit and you will still book the loss but it would be less but imp is mark the resitance and wait for reversal if doest exit the trade

shivamishra023

@shivamishra023, book minor profit...what a move!!!