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Tatasteel

Tata Steel Intraday Short (Perfect Confluence)Writing it in live markets. Weekly at resistance. Red small candles, clear rejections and a bearish hidden RSI divergence gives me a clear weak bias in the weekly. Daily forms a Double Top pattern along with a weak Trendline break. Need a break below the support (Orange line) for swing short. In 75 min. price can be seen breaking below the support (Green Line) clearly and there is a pullback to reject it which is a perfect long wick candle in the making. In 15min also, a perfect red rejection of the support can be spotted (arrow). For entry, I used the 5 min TF and waited for a break of Trendline to enter short by confirming that the pullback was over.
NSE:TATASTEELShort
by afzal_57
2
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.
NSE:TATASTEEL
by BharatJhunjhunwala