July 28, 2015

TATASTEEL triangle on monthly charts

This stock was a non performer in recent rallies. Now while it is trading at 52 week lows, it is also nearing support trendline on monthly charts.

If this trendline holds, one can expect some rally. Obviously I have no targets but a trailing SL as usual will help lock in gains.

Note: there is no buy signal and trend is down on daily, weekly and monthly timeframes.

SEBI disclosure applicable

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