TATA STEEL LTDLong
Near Channel support
Updated
Tatasteel is near channel support 442 which is also the 50% retracement level of prev move from 377 to 508. If this holds it can resume its uptrend. Stop loss for this trade is any close breaking below the channel trend line which is @440
CMP 454 is not in a favorable R:R for me. Will wait and take trade between 448-445 levels with stop loss @440 on closing basis.
Disclaimer: This is my personal view.Not to solely influenced by this please do analysis from your side to have a better perspective for your trade.
CMP 454 is not in a favorable R:R for me. Will wait and take trade between 448-445 levels with stop loss @440 on closing basis.
Disclaimer: This is my personal view.Not to solely influenced by this please do analysis from your side to have a better perspective for your trade.
Note
Patience paid off, yesterday made the low 447 and gave the awaited 1st buying opportunity @448 now the R:R is at a comfort zone need a close above 462 for more strength.Note
as mentioned yesterday tatasteel made 463 but not closed above 462 even in 1 hour chart , now again @447 levelTrade active
Tatasteel touched both the buying levels those.Those who have entered near 448 or 445 can take 440 PE as insurance, the channel is respected the timeline is respected let's see will the reversal confirm with a close above 462Trade closed: stop reached
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