nano6yogesh

Tata Steel - End of countertrend ?

Short
NSE:TATASTEEL   TATA STEEL LTD
Tata Steel NSE:TATASTEEL is witnessing selling pressure after not so good results where most of the profit came from exceptional gain.

I can see that the stock has also reversed after retracing around ~ 38.2% of its previous fall from Jan 31 highs and is on its way to form a Bearish Engulfing candlle today.

Good opportunity to short here with stop loss a few points above today's high and a target around 550 levels.

Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.

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