This is a classic example for explaining "tails". Price was nearing the support and both buyers & sellers were trying to take control. This was expressed by upper wick & lower wick candles formation. Support was at 462 - 464 levels. Whenever we saw battle between buyers & sellers, we have to wait for few minutes so that we can get trend direction confirmation. Jumping in to the trade seeing "tails" and buying was not a good idea. Remarkable points: Trading is a waiting game. And winners are the traders who have patience. Price broke the support and had nice fall. I have given the part 1 in the link below. Therefore "tail" got negated below 462 - 464 level.
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Tatasteel in lower time frame gives clear picture.
Now that's an example for fight between bulls vs bears rather than simply chasing tails, that's called experience.
vanathi
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@Abhi.rus, Trading skills get developed by experience.
anbulina
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Really superb explanation, from second candle bears take the control and stock moves south.... is there a way to find out the stocks for shorting or we can look for stocks nearing support zone..
vanathi
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@anbulina, Thank you. Sector wise also price fall/rise.