Tata Steel: Another breakout attempt. How far it can carry?

TATA STEEL: The stock made an breakout attempt on 4th November but didn’t quite make it. The prices retraced into the cloud only to take support at the Span B plus TS line. The RSI is well into the bullish range and MACD is forming a bullish hook pattern. At 440 a strong resistance is placed. An attempt to test 440 levels can be made by the stock. Activity at those levels should be monitored and as further course will be decided at the price action formed at that point.

Bharat Jhunjhunwala

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