Tata Steel- Ideal Retracement Zone 383-385 Clicked. Session High@386.75
The retracement which I was looking out for so many trading sessions is finally done- the fall from 394.65 to 367.30 has been retraced by 61.8% -which comes in the zone 384-385.
Likely we should see some pressure in TataSteel once it starts falling below 381-380 handle. So, let wait for another opportunity.
Abhishek H. Singh, CMT
TS got super bullish above 394.65 our highest point. Kindly do not take short at current levels of 402-403. It looks that TS could travel in the zone 406-407 & take a pause - if falls below 401.50 after taking a pause in 406-407- Then likely there is a selling opportunity for 389-390 zone target area.
Closed shall come up with a new update-
We milked Tata Steel 10 bucks yesterday@8th Sep2016. First, Long position above 402 for target zone 406-407- Bang On
Then Selling with Strict Stoploss@308.60 - Target zone was 400-401 first & later it was 389-390- Its trading today@395