Tata steel showing symmetrical triangle pattern
Making a symetrical pattern in the weekly chart. It represents that both buyers and sellers are active and have equal power. Now where ever it gives breakout with good volume i will make my mind that way.
If upper breakout happen upper side with good vol i will long from 115 with 1st target 125 with Risk reward ratio of 1:4.
If lower breakdown then i will short after crossing of 108 support level with target till 101 with RRR OF 1 : 3.67.
BUT MOST PROBABLY IT MAY BREAK UPWARD as from 2 3 weeks its showing green volume candles. Again i say maybe it can go up, and may be not.
If upper breakout happen upper side with good vol i will long from 115 with 1st target 125 with Risk reward ratio of 1:4.
If lower breakdown then i will short after crossing of 108 support level with target till 101 with RRR OF 1 : 3.67.
BUT MOST PROBABLY IT MAY BREAK UPWARD as from 2 3 weeks its showing green volume candles. Again i say maybe it can go up, and may be not.
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