#TATASTEEL - Read it full- New way to learn how to read chart
Comment 'we are the powerhouse' if no one teaches you in such easy way ;)
Short opportunity
Lets explore new style of seeing stocks. As stock is in Downtrend. Ask yourself, 'Last selling kaha se ai' . You will get an answer -1200 levels. Then ask 'last buying kaha se ai'. You will get an answer -1100 levels. Now these two are your key levels.
Now till the time these two levels are not broken to up, the trend wont change.
Now how to trade? Levels jahan se last selling ai, vo wale log profit book zarur karenge aur stock upar ja skta h kabi b. Will you buy it right now? NO- as it can hit your sell.
Now as we understand, we wait for a pull back to the level jahan se ' Last buying ai' or the level jahan se 'last selling ai'. If on either levels, we see a bearish candle, that will be our entry and SL will above that level.
Level jahan se last buying ai is important, because that can be a possible resistance now, which was earlier support.
I hope your learned a new way today & Understand chart in a better way
Tata Steel will touch 750 by June end. Steel industry peak cycle is over and the downtrend has just begun. Much lower levels will be seen as lot of pain is still there ahead. Margins will be severely hit as exports are unviable now. Steel prices will crash hurting realisations. They also don't get benefit of cut in duties on raw materials as they have their own captive mines. Today for first time in more than a year the stock has closed below 1000. Stock can touch 750 or even lower.