Tata Steel | Consolidating with a slight bearish undertone

9 thg 4, 2023

Tata Steel saw an upward trajectory since June 2022 lows but after facing resistance from the falling channel in Jan'23, it has become range bound with slight bearishness. Currently, at crucial support of 200 DMA at 102–103 which was also the Dec 2022 low, a breakdown can take the stock to 95 levels. Whereas bullish divergence in RSI (HL in RSI and LL in price) if aided by a consistent close above 106 can invite some buying interest and targets of 109–110 can be achieved.