nalinakshi

tatasteel , more pain ahead

NSE:TATASTEEL   TATA STEEL LTD
4
tatasteel has formed bearish Marubozu cnadle stick pattern on the weekly chart and also it is inside candle stick pattern. It indicates sellers donot want the price to go up and holding firmly, so the price action. it is hovering within the range of 485 to 502.7. if things turnout to be more bearish you may sonn see the levels of 479 to 470 if the price breaks 479.5 on closing basis. price action may be range bound within this narrow range bound. monthly chart is still strong. but for the immediate term you may see correction. wait and watch
Comment: now tatasteel 481.7, here around 479.5 it may take temporary support and pull back?
Comment: now 478.55, it seems no respite for now
Comment: tata steel has come back to the pavilion . near the previous support 0f 474