Review of Tata Steel Charts

Monthly Chart

We had seen a Head  & Shoulder Bottom reversal pattern  & the breakout therefrom, on the monthly charts of Tata Steel.

And a pullback to the neckline (Level of  434 ) of H & S Pattern is also seen .

Stock managed to bounce -off from the neckline , faced difficulty to cross 490-495 levels.

It slipped again and trading sideways( range bound move movement )from the past 2 months.

The Trading Range is of approx 60 points.( 432- 490).  This range offers a major support zone for the stock.

Thus these levels are Important Levels to watch : 432 and 490.

Volume are considerable less during this range bound movement.

RSI of the stock is above level of 50.

Immediate supports are at 460 & 433.

Further support is at 400, 388, 342.











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