NSE:TATASTEEL
Observations:
1) 1Day TF for reference.
Please refer below chart : 1Day time frame.
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Trade Setup for 07-06-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to...
NSE:TATASTEEL
Observations:
Let's first take look at NIFTYMETAL.
--> On daily time frame, if we apply FIB retracement only on recent uptrend move then we can see that today's candle took support from 61.80% level range.
Please refer below chart : 1day Time Frame.
--> On Daily time frame again, if we apply FIB Reracement on a bit longer uptrend move...
NSE:TATASTEEL
Observations:
1) On 1 day time frame, we can see that it faces resistance from 50DMA zone. And closed below 50DMA.
50DMA is placed at 1381.56 level.
Sustainable breakout of 50DMA on daily time frame will continue the uptrend.
Please refer below chart : 1day Time Frame.
2) On 1 day time frame, if we apply FIB RETRACEMENT then we can see...
Price once again reaches the channel top and there is high chance for rejection from this level. Only thing is wait for the reversal signal and go for the short trade, do not enter without confirming the rejection.
![TATASTEEL: Simple Trade Setup | TATASTEEL | 07-06-2022 [INTRADAY]](https://s3.tradingview.com/8/8swhj82E_mid.png "Simple Trade Setup | TATASTEEL | 07-06-2022 [INTRADAY]")
![TATASTEEL: Simple Trade Setup | TATASTEEL | 21-10-2021 [ INTRADAY]](https://s3.tradingview.com/k/kKDc57zq_mid.png "Simple Trade Setup | TATASTEEL | 21-10-2021 [ INTRADAY]")
![TATASTEEL: Simple Trade Setup | TATASTEEL | 18-10-2021 [INTRADAY]](https://s3.tradingview.com/y/YBrsVoiF_mid.png "Simple Trade Setup | TATASTEEL | 18-10-2021 [INTRADAY]")
