Tata Steel Bearish Flag for NSE:TATASTEEL by AdityaSubramanyam

TradingView

Upgrade Upgrade now Start free trial Upgrade plan Pay nothing extra Upgrade early Get 6 months free Use last chance Get a month for $1

Chart Patterns

264 views

chartpattern

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

Nikhil1486

@Nikhil1486, There is no need to worry until the red line in this chart -

is broken. Anyways stop is 580.

AdityaSubramanyam

@AdityaSubramanyam, Thanks Aditya...I finally squared off as my SL of 570 got hit today.

-Nikhil

Nikhil1486

@Nikhil1486, Lets see. It tried moving above 580 but couldnt sustain and closed below 580. We can probably enter again when it hits 540.

Is it buy at 540 or sell at 540?

AMBRISH

@AMBRISH, entry(sell)