Follow on twitter @piyushrawtani for live trading ideas.
TATASTEEL is forming a small head and shoulders pattern on the hourly , expected to touch the neckline .
Can go long at CMP with SL328 and of TGT 360-365
it is inside the descending triangle with resistance at 360.
if it closes above 360 then next target will be 380-400.
Currently wait and watch.
if closes below 330 then 300 is the target
RSI showing positive bias
TATASTEEL has given a good fall in prices after the breakout. The fall in price is currently halted & is seen consolidating. It has potential of a pullback towards the cradle as its in oversold zone. A throwback upto 410-430 range cannot be ruled out. Thus, traders can buy in the range of 335-347 for short term trading with a protective stop loss below 275....