AdityaSubramanyam
Short

Tata Steel Bearish Flag

NSE:TATASTEEL   TATA STEEL LTD
259 views
2
Tata Steel brokeout of bearish flag pattern on daily.
Buy - ~ 540
T1 - 500
T2 - 475
T3 - 400
CBSL - 580
Trade active
Comment: Entry at 540
Trade closed: stop reached: It hit our SL and fell - wth
Comment: Will re-enter at 540 again

Comments

Hi Aditya,

Nice Explaination.Even I took a short position at 546 yesterday, but looks like shortcovering happened today. Lets see how it behaves tommorow.

Regards
Nikhil
Reply
@Nikhil1486, There is no need to worry until the red line in this chart - is broken. Anyways stop is 580.
Reply
Nikhil1486 AdityaSubramanyam
@AdityaSubramanyam, Thanks Aditya...I finally squared off as my SL of 570 got hit today.


-Nikhil
Reply
@Nikhil1486, Lets see. It tried moving above 580 but couldnt sustain and closed below 580. We can probably enter again when it hits 540.
Reply
Is it buy at 540 or sell at 540?
Reply
@AMBRISH, entry(sell)
Reply
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