Steel is in clear Downtrend as price reversal is intermittent. The Target is on lower price Band.
When this price will Retrace one can enter into PUT for Month.
Since Bank Nifty is in Range there is still no possibility of Breakout. In case of Range Bound then the upper Bank Nifty will be tested but in case of Breakdown then Lower Limit will be tested.
This View iterates that the UPL is in uptrend as defined in MCGinley Dynamic Chart.
Resistances are 714.55 then 740 and then 793.35 as per Support and RESISTANCE