Short Term Trade Tata Steel
Updated
On 30m chart , breakout is visible in tata steel
On the breakout candle, Volume is higher than average
and there is sudden rise in ATR
The resistance trendline broken, is now acting as a support after the breakout
Since this pattern is on 30m chart ,
we consider it a short term trade and keep low tgt of 115.6(green horizontal line)
and SL of 112.25 (white horizontal line)
RR Ratio is 1:1
On the breakout candle, Volume is higher than average
and there is sudden rise in ATR
The resistance trendline broken, is now acting as a support after the breakout
Since this pattern is on 30m chart ,
we consider it a short term trade and keep low tgt of 115.6(green horizontal line)
and SL of 112.25 (white horizontal line)
RR Ratio is 1:1
Note
dividend 3.6 per shareNote
Due to Dividend , the tgt and sl are adjusted as follows:tgt : 112
sl : 108.6
Trade closed manually
Target had reached but on immediate opening candle of day and reversed, if not able to book profit, can exit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.