Look for Short selling Opportunity , the scrip has entered an consolidation phase
You can add shorts on rise based on your entry & Exit method
You can look to book near the forecast area , Go for June Future for short selling
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.
Metal sector is heavily affected by the conflict between US-CHINA. Demand of metal has been heavily dropped in china. And we can't see any upward move for this sector until and unless everything is sorted. Short Tata steel as it is moving towards strong support and no chance for getting upward. #Illuminati
As per technical analysis, it can easily go towards its support level. Given the market sentiment, the stock is more likely to come down towards its support level. Let's see where it goes as market is supreme!!!
These are my personal views. If anyone wants to take this trade, take as per your own risk and consult your financial adviser.