After a long downtrend from 750 levels in Jan end, looks like we have a bottom in place for Tata Steel
TATASTEEL
at around 537 levels.
I can see a Double Bottom here with positive RSI Divergence.
It remains to be seen what happens at the trendline resistance which at present is around 583 levels.
I expect the stock to reach at least 610 for a first target.
Good opportunity to go long with stop loss at 535.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
TATASTEEL
at around 537 levels. I can see a Double Bottom here with positive RSI Divergence.
It remains to be seen what happens at the trendline resistance which at present is around 583 levels.
I expect the stock to reach at least 610 for a first target.
Good opportunity to go long with stop loss at 535.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.