TATASTEEL - PULLBACK ON LOW VOLUME

19 thg 11, 2020

TATASTEEL

• TATASTEEL OVERALL OUTLOOK REMAINS BULLISH
  
• ON 17TH NOV,PRICE OPENED GAP UP AND FORMED A STRONG BULLISH CANDLE WITH HUGE VOLUME
  
• BUT AFTER THat PRICE STRUGGLED TO MOVE HIGHER,VOLUME ALSO ON DECLINING SIDE
  
• AFTER WHICH PRICE STARTED TO RETRACE ,AT FIRST WITH EXPANDING VOLUME ,THEN ON EXTREMELY LOW VOLUME
  
• THERE ARE TWO POSSIBLITIES,EITHER
  >>>>> PRICE GRADUALLY MOVE DOWN ON LOW VOLUME AND TAKE SUPPORT AT 495 -502 ZONE (PREVIOUS GAP) BEFORE MOVING HIGHER (or)
  >>>>> PRICE COULD TEST THE RESISTANCE (RECENT HIGH) FOR SOME TIME BEFORE MOVING HIGHER ON VOLUME EXPANSION