• Tata steel is trading between two different channel system for the last one year.
• On 19th May It broke out from channel system 1
• On 25th May it broke the channel system 2 with good volume.
• There after the market is sideways and there is a volume contraction is observed.
• Weekly candle is indication a bearish piersing
• A fake BD below level 160 could lead the price on channel system 2 and EMA 21 around 156.5
• A free fall might happen there after.
• Go long only if a strong bullish marubuzo closing above 166.
• Wait and watch the show!!!
• On 19th May It broke out from channel system 1
• On 25th May it broke the channel system 2 with good volume.
• There after the market is sideways and there is a volume contraction is observed.
• Weekly candle is indication a bearish piersing
• A fake BD below level 160 could lead the price on channel system 2 and EMA 21 around 156.5
• A free fall might happen there after.
• Go long only if a strong bullish marubuzo closing above 166.
• Wait and watch the show!!!
Trade active
Took support from EMA 1 and bounce back.If 09-06-2025 candle close is above 06-06-2025 book profit and exit
Note
Its EMA 21. A typo
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.