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