One might buy Tata steel on dips with SL placed at 455 and targets of 479/485. The RSI is placed at 30.36 and indicates a high probability of a bounce back. It is also supported by the bullish candle created today. Bounce on the Nifty also supports the move.
Reasons for telling long,
1. check the estimate vs actual and after effects of price, this time it ll post lower than estimate.
2. it is in trend line support for short term and dropped from resistance trend line of medium term, hence if bounce confirmed i.e if goes above 535 zone marked in trend (tats why only for aggresive trader, defensive trader can wait for...
Ascending Triangle Breakout done : Target: 660
Channel Breakout done: Target: 760
Buy: 620-630 levels
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.