TATA STEEL has been in an uptrend, continuously forming higher lows. After the recent complex pullback, it seems rested and ready to move forward and challenge its highs and possibly make new ones. It was unable to close above 1150 for a number of sessions and has finally broken out past that level on a closing basis. Keep an eye out for levels of 1245 and beyond.
Comment:
Trail stop loss to 1140, the low of 14th June if you want to minimize loss. But the uptrend is intact, so patiently waiting with a stop loss below 1110 for positional traders is recommended.
Comment:
Waiting for a new continuation candle on this setup, trend is still bullish.
Trade closed manually:
Trade closed at cost.