Tata Steel - Correction?
Tata Steel :-
- Monthly RSI showing signs of Divergence
- The same could be observed on Weekly RSI as well
- On daily the candle formed on 26.04.24 seems to be bearish in nature with high volumes forming a double top around the levels 165/170.
The Fib retracement could be seen plotted at 154-150, 0.5/0.618 respectively.
A short can be initiated from the levels 165/168 for a target of 6-8%
Buy opportunity can be seen at levels 152/154 post confirmation.
- Monthly RSI showing signs of Divergence
- The same could be observed on Weekly RSI as well
- On daily the candle formed on 26.04.24 seems to be bearish in nature with high volumes forming a double top around the levels 165/170.
The Fib retracement could be seen plotted at 154-150, 0.5/0.618 respectively.
A short can be initiated from the levels 165/168 for a target of 6-8%
Buy opportunity can be seen at levels 152/154 post confirmation.
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