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DeepValueFishing
May 7, 2021 8:35 AM

TATA Steel overstretched  

TATA STEEL LTDNSE

Description

Tread cautiously market over stretched, a pull back could be in the works. a 40% pull back possible. set your stops on your longs
Comments
kiran2k7
Afraid as I'm holding 1220 PE, Not sure how it's moving up.
Or TATASTEEL is covering other sectors as Nifty is down.

Could be lockdown will bring the stock down. Please advise.
DeepValueFishing
@kiran2k7, I never question price action, no matter what the fundamental, price action trumps everything. We play short term or long term based on fundamentals. if someone looks at fundamental and looks at this price, they wont buy, but short term momentum players love this.

No indicators, fundamentals can change price volume action, it is the truth of matters.
kiran2k7
Based on today's trade what's the update.
DeepValueFishing
@kiran2k7, i expect pull back to test 1000 then it should try to regain highs, but this is going to print a character changing big red bar soon.
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