TATA STEEL (SHORT)Be cautious while trading in TATA STEEL. If you are holding keep Strick SL at 1215. its following a downtrend now only buy above 1542 level.
Sell below 1215.
Buy above 1542 only.
keep tgt 1:3 in both
SL: Tgt = 1:3
stock P/E is also high
stock is in overbought condition due to suddent steel demand in the market in last few months.
cooling down may happen in this stock.
if holding keep strict SL. if planning to buy wait for Breakout above 1542.