Stock has lost in recent sessions but adhering to the support line and the important levels
The Stock is taking support at 1213 levels and hence need one more positive candle to confirm the uptrend
Buy levels triggered only after closing above today's high
Target of 1343 in couple of sessions
Stop loss would be 1213 levels
Nifty has been trying since so many days to break the Supply zone
Today again it tried and hence again price came down
Looks like the gap is becoming narrower and can see a make or break in Nifty index
Personally Bullish on Nifty index as a positional point of view
The momentum and run of Tata Steel was good in the recent days touched good high but somehow the momentum is getting slowed.
And RSI is in overbought zone along with Doji Candle at the top seen price rejection previous candle before Doji
Can be kept under watchlist
The stock is forming a flag pattern in sideways levels
Can be bought above the range and can be sold below the range whichever way it breaks
Proper closing with adequate volume will only support the mvoe
Trade with Proper Risk Management
Cup and Handle breakout can be seen at 1hr TF
Stock having strong support of 200Day EMA but no confirmation yet ot trade upside potential of more than 200 to 300 points from the breakout levels
Rounding Top formation happening on daily basis
And the stock shall closed below 1135 then one can enter short sell trade shall be activated
Target 70-100 points with stop loss of 1180 or 1190 levels
Looking good the stock showed some good movement in couple of days and continue do the same
Long above 63 can move the stock at pre COVID levels.
Stop loss of 50 on Closing basis
Biocon H&S pattern is under development
Major resistance area is 375 370 levels if it breaks then can be shorted for 50points target
Stop loss would be the neckline of the shoulder 420 levels
