TATA STEEL - TRADING BETWEEN SUPPORT AND RESISTANCE

As you can see TATASTEEL has been trading between Support (green line)@ 1235 and Resistance (Red line) @ 1163

Reasons to go long:

1. Bounce off support
2. Broken downward sloping trendline with a bullish candle
3. RSI on 4 hr is oversold

Stop- 1 ATR below green line (support)
Target- Red line (resistance)

Beware of volatility going into Budget.

Happy trading