Observations for Time Frame : 5 - 7 trading sessions
Last Close : 323.85
Short term trend down
Sell below 322 ans also near 334 on rise
targets 314.2 (Strong bounce back zone)
breakdown below 313 Bears will be in control upto 303/297
Options Stretegy : 300 PE looks lucrative..
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tata steel has been travelling within this channel for the past few days. now you can pick up the trade depending upon the breakout.A 15 min candle has to form abv or below the trend line.so that you can pick up trade in that direction.
THE STOCK HAS CROSSED THE RESISTANCE OF 336 WITH GOOD VOLUMES THE STOCK CAN GO TO TEST FUTHER TO TEST VPOC OF AROUND 350 , ALSO THERE IS A PREVIOUS GAP TO BE FILLED IF U CHECK THE DAILY CHART NOW 336 WILL ACT AS STRONG SUPPORT , THUS MONDAY THE TATA STEEL LOOKS STRONG IF IT OPENS GAP UP WE CAN WAIT TO RESTEST THE SUPPORT ZONES OF AROUND 336 LEVELS AND GO LONG FOR...
TATA STEEL BREAKOUT AND NOW TIME TO BUY
& GET 1:2 RISK REWARD LEVEL AS INTRA-DAY.
AND SHORT TERM TRADING LEVEL. YOU CAN TRADE WITH OPTION (ATM) (ITM) & WITH FUTURE JUNE EXPIRY
AND FOLLOW THE STOP LOSS IF YOU GET 1ST TARGET THEN YOU CAN TRAIL YOUR STOP LOSS.
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Wait For levels Trade in High Volumes and Liquidity.
If it sustain above 284.3 then buy with target of 288.10
If it sustain below 276 then sell with target of 274
I feel like the market has bottomed out and will slowly attract smart money after the pandemic weakens out. Anyone willing to buy low, now is your time to shine.
A strong rejection on the 298 level is likely to push the price downwards. The topping tails are longer with respect to the candle body, looking for a down move.
Thanks for reading, hope you have a green day!
