Tata Steel
TATASTEEL
is witnessing selling pressure after not so good results where most of the profit came from exceptional gain.
I can see that the stock has also reversed after retracing around ~ 38.2% of its previous fall from Jan 31 highs and is on its way to form a Bearish Engulfing candlle today.
Good opportunity to short here with stop loss a few points above today's high and 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
is witnessing selling pressure after not so good results where most of the profit came from exceptional gain. I can see that the stock has also reversed after retracing around ~ 38.2% of its previous fall from Jan 31 highs and is on its way to form a Bearish Engulfing candlle today.
Good opportunity to short here with stop loss a few points above today's high and 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.