I hope you can now see how TATASTEEL represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . U+1F60D
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Hello Trader, Here is the full analysis of TATASTEEL:
1) On daily chart we can see the stock is trading at strong resistance.
2) On 15 min chart, It is trading between the short term trend line. One can look for shorting opportunity if it falls below 288.
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if you look at the charts tatasteel is near its 50 period weekly ema if it breaks one can buy with a near tgt 445 which is weekly resistance and tgt2 of 458 which is also a weekly resistance but much stronger and a strong monthly support at 432.
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If it remains to hold the 490 level, we can hope new highs. Otherwise it may again go for its support level. But on the looks of it, it is not looking bullish as per the market. Looking for the target 470.