AbhishekHSinghCMT
Short

Tata Steel- Don't lose your temper

NSE:TATASTEEL   TATA STEEL LTD INR10
81 0 2
Tata Steel- Ideal Retracement Zone 383-385 (61.8%)


Since the last update, I was expecting a bounce at least till 383-384 where TS             will get retraced by 61.8% of the fall from 394.65 to 367.30

But aren't moving up neither down- so it is advisable not to get impatient & take a hurry trade.

Trading Strategy- Either look for a bounce in the zone 283-284 or let the swing low@268 get broken for short trades in the coming session.
Once you get a bounce in 283-284 -get a clue that it has started falling, then put recent high as a stop for taking trades.

Regards,
Abhishek H. Singh, CMT
Comment: Typo error- "283-284" -- should be "383-384"
Comment: Trading Strategy- Figures used are in 200's actually it should be figured in 300's. Kindly excuse for the typo error.
Trade active: 11:00 Hrs-IST-6th Sep2016- Bounce in TS - made session high@380-381.
Book & wait outside.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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