Tata Steel - Has the downtrend resumed?
After a pullback from the lows of 537 to 608 , Tata Steel
TATASTEEL
seems to be facing stiff resistance around 600 levels.
I can see that it failed to cross the resistance after retracing 61.8% of the downmove, forming a large bearish candle and Evening star like pattern today.
Went short here with a stop loss around 610 levels for a target around 550 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
TATASTEEL
seems to be facing stiff resistance around 600 levels. I can see that it failed to cross the resistance after retracing 61.8% of the downmove, forming a large bearish candle and Evening star like pattern today.
Went short here with a stop loss around 610 levels for a target around 550 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Kommentar:
Achieved the target yesterday !!...Metals (Tata Steel, JSW Steel, Hindustan Zinc ) have given the most profit in this downfall !