TATASTEEL - WEAK METAL?Metals have been out of flavor in today's down move along with host of others like AUTO. The break-down compels one to question the excessive up move and calls for deeper correction. CNXMETAL depicts similar picture. TATASTEEL caps 625 for move to 540 one attempt. Immediate support at 590 is under threat. Below 627 eyes these lows. Some profit taking around 550-560 in order during the decent.
TATASTEELPP trade ideas
Tata Steel - Intraday Trade SetupTATA Steel CMP - 492.20
Looking bearish in higher time frame. One can go for Intraday / Swing Trade setup with the following entry, exit & targets
Sell at or Below 489.50 / Stop Loss 496
Target 1 - 485
Target 2 - 480
Target 3 - 475
Disclaimer: This is my view and for educational purpose only.