TATA STEEL LTDLong
Aggresive long on TATASTEEL
Updated
Reasons for telling long,
1. check the estimate vs actual and after effects of price, this time it ll post lower than estimate.
2. it is in trend line support for short term and dropped from resistance trend line of medium term, hence if bounce confirmed i.e if goes above 535 zone marked in trend (tats why only for aggresive trader, defensive trader can wait for confirmation) it ll sure shot go for medium term uptrend which is very gud risk: reward ratio.
3. FIIs started buying and hence lots of chance of uptrend.
failure of this idea will be confirmed only after results if it falls below 500 (for those who have confident and big target) or below 518 for defensive aggressor.
1. check the estimate vs actual and after effects of price, this time it ll post lower than estimate.
2. it is in trend line support for short term and dropped from resistance trend line of medium term, hence if bounce confirmed i.e if goes above 535 zone marked in trend (tats why only for aggresive trader, defensive trader can wait for confirmation) it ll sure shot go for medium term uptrend which is very gud risk: reward ratio.
3. FIIs started buying and hence lots of chance of uptrend.
failure of this idea will be confirmed only after results if it falls below 500 (for those who have confident and big target) or below 518 for defensive aggressor.
Note
Just check the after effectsNote
IF tomorrow closes above 560 then short term uptrend will continue and will be confirmed if weekly close is above 565Note
Wait for confirmation, instead if it forms new low tomorrow, then book profit 50%
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