UPDATE – TATA STEEL TRADE SETUP

I have mentioned a trade possibility of Tata Steel as there is a rising wedge + negative diversion. Today Some steel stocks has breakout on the upside like JSW steel.. So now there is another possibility builds up that it might break the upper trendline of the Rising wedge.

so now we have 2 possibilities –

Short – Below 628 Targets 615-605-595

Buy – Above 641 Targets 655-665-675 (Though resistance can be at the upper trendline of the wedge) – I prefer to trade when price breaks the wedge.

So keep an eye & Trade best possible setup on either side. Will keep update on Daily Basis on Tata Steel.

I’ll try to update during market hours !!

Chart is below for your reference.

Tata Steel Daily Chart

Learning Here – Rising Wedge Trade Setup

Disclaimer

Above Views are only for Educational Purpose. Equity, Commodity & Currency Trading has large potential rewards, but also Large Potential Risk. You must be aware of the risk and willing to accept them in order to invest in the markets. Don't trade with the money you can't afford to lose. This page is neither a solicitation nor an offer to acquire/sell any script. Please consult your financial advisor to take appropriate investments as per your risk profile. The past performance of any investments is not an indication for future returns.

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