TATASTEEL has been falling since 185 rupees and has reached about 50% retracement level today from the last swing. Though this stock is in surveillance as the PE is above 50, But also considering the PB of less than 2 and other similar factors, It may not be that bad after-all.Technically speaking, The stock is trading at an RSI of about 30 on daily, and there is a bullish divergence on hourly chart.
There is a doubt in my head due to the new Virus news sentiments. If it goes to 120, It would be trading around 61.8% retracement which would be an ideal buy for me. Currently I am tracking this stock and considering an early buy at 132-133 range.
~ Trading Idea by Dr. Sagar Bansal via jyotibansalanalysis
Note
Alert - The current RSI on hourly chart is near to the previous low. If it goes down further, it may result in a failed divergence. Something to be cautious of. But its not a bad trade considering the stop loss would also be negligible. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.