TATA STEEL 4H AND 1H TREND ANALYSIS

TATASTEEL 4H AND 1H TREND ANALYSIS

1.Price is running in ascending channel .
2. DOJI and SPINNING TOP formation in upper range shows uncertainity. PRICE MAY EITHER GO UP OR DOWN. BREAKOUT IS MORE LIKELY POSSIBLE.
3.PRICE AND VOLUME DIVERGENCE.
4.RESISTANCE AT CURRENT LEVELS.

WILL LOOK FOR SELL SETUP IF SEEN WEAKNESS AMONG BULLS.
ALL THE PUBLISHED IDEAS ARE FOR MY OWN ANALYSIS JOURNAL PURPOSE. TO KEEP TRACK OF MY ALL ANALYSIS I PUBLISH IDEAS.

REGARDS
JUST A NOVICE ANALYST

Comment:

1.PRICE WASN'T ABLE TO BREAK ABOVE LONG TRENDLINE.
2.PRICE IS STILL IN RESISTANCE ZONE
3.ANOTHER SPINNING TOP FORMATION IN 4H SHOWS STRONG UNCERTAINITY.

*PRICE WILL GO DOWN. WILL LOOK FOR SHORTING OPPORTUNITY AFTER NEXT DAY CONFIRMATION.