Friday, 9 June 2017

WEEKLY TECHNICAL VIEW ABOUT TATASTEEL


BUY tatasteel AT 502 TGT 513/520 SL 488

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Primary trend of the stock is bullish and is consolidating at the higher level after bullish move. It is expected to continue the bull run with the crossing of the resistance level of 522, as the stock is sustaining above its 200 and 22& 50 days moving averages with the RSI of 65. One may initiate the long position above the mentioned level for the targets of 502 and with the strict stop loss of 488.on the other side it is likely to show correction with the breach of the support level of 488, where one may initiate the short position in it for the targets of 480,470 while stop loss can be placed at 510.
DAILY CHART FOR TATASTEEL

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