This analysis was done in live market. As
TATASTEEL
opened with a huge gap up during the opening bell(making the week's new high) I looked for typical patterns in smaller time frames and identified a pretty clear Ascending Triangle pattern. After a few consolidations a positive breakout occurred and closed above the resistance, therefore I took an entry and decided a reasonable target point. The strong uptrend lasted for almost 30 mins and the price failed to make a new high, this was almost a 20 rs upside and a sufficient lot size would've done the trick. As of writing this, TATASTEEL is trading indecisively in a sideways trend and is probably traded by computers.
-Happy Trading !!!
TATASTEEL
opened with a huge gap up during the opening bell(making the week's new high) I looked for typical patterns in smaller time frames and identified a pretty clear Ascending Triangle pattern. After a few consolidations a positive breakout occurred and closed above the resistance, therefore I took an entry and decided a reasonable target point. The strong uptrend lasted for almost 30 mins and the price failed to make a new high, this was almost a 20 rs upside and a sufficient lot size would've done the trick. As of writing this, TATASTEEL is trading indecisively in a sideways trend and is probably traded by computers. -Happy Trading !!!
