NeeteshJain
Short

Tata Steel at High Reward Ratio Setup

BSE:TATASTEEL   TATA STEEL LTD
It is been observed that the price action has previously breaks out from a channel and then retrace back to the previous channel trend line , forming a V shaped signaling completion of retracement and now the price action shall further move down toward 340 target levels decided on the facts:
1. Measurement of the breakout channel and
2. Previous Resistance levels now shall act as support levels.

Risk/Reward: 1/5

Target1: 342
Stoploss: 381

Trade closed: target reached: Target reached yesterday.
Trade active: Targets of JSW steel was achieved yesterday and now it is in progress to achieve targets.

Comments

excellent analysis sir...
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Bro,it did the unexpected.Any idea why.
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NeeteshJain SHVMaverick
It might be going up to fill the gap around 390 levels.
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hi, how can i load my chart in comment
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SHVMaverick SHVMaverick
can it take support at green line https://in.tradingview.com/chart/g6iibMbH/
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NeeteshJain SHVMaverick
Well drawn trendline, If it takes support on that marked Green Line then it will go up after touching but once it breaches out 355 levels it shall surely touch 342 levels.
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SatyamMishra NeeteshJain
@NeeteshJain, I think it hits the sl why are you mentioning that it hits the target
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