At weekly timeframe, Tata steel formed a kind of double top and broke a neckline also.
When we draw a fibonacci from swing low to high. we found key levels for tata steel.
As we can see, next major support of tata steel is nearby around 700 because there is level of 0.618 fibonacci, 200 ema and also POC level is just next below 0.618. Somewhere tata steel take pullback from these levels.
We can add more quantity in tata steel if it take pullback at lower timeframe for positional near around 700 with a sl of 20rs.
Key levels are clearly mentioned. Follow rules for profitability.
Thanks & Regards
Sumit Thakur
When we draw a fibonacci from swing low to high. we found key levels for tata steel.
As we can see, next major support of tata steel is nearby around 700 because there is level of 0.618 fibonacci, 200 ema and also POC level is just next below 0.618. Somewhere tata steel take pullback from these levels.
We can add more quantity in tata steel if it take pullback at lower timeframe for positional near around 700 with a sl of 20rs.
Key levels are clearly mentioned. Follow rules for profitability.
Thanks & Regards
Sumit Thakur