Tata Steel - Long Trade - Kursi Ki Peti Baand Lijiye

TATASTEEL on weekly charts has a commanding positional advantage. Since commodities are news and dollar driven, some little knee jerk reactions can emerge during the journey, and perhaps by the end of September or early October, TATASTEEL can become a brilliant trade to play with. The positional view is also displayed on the chart, but it will need patience to maintain your current positions.

Pattern Formed - Flagpole & Bullish Pennant
Positional SL - Low point of the pennant pattern
Immediate SL for long trade - Top of the pennant breakout line or say 115 on WCB

Conclusion - Breakout of the pattern and retest done. Should resume upwards journey

Let's see how the story develops. Best wishes!

Disclaimer -

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