Tata steel stock price has fallen in recent times. However, the price is showing bullish signs now. The volumes are increasing and the price is nearing a breakout. The overall metal index showed a bullish sign.
The XABCD bat pattern sets a supply zone/ PRZ which has to be taken out to make a new all-time high.
Start booking the profits from the supply zone and trail until the all-time high is broken. The short-covering moves can take the price to the ultimate target set by the XABCD bearish crab pattern.
The breakout, stop-loss, and target levels are mentioned on the chart.
Happy trading :)
This is just for educational purposes.
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near the supply zone, may have a pullback. You can book profits and trail rest from here.
@Vikram2402, the idea is simple. You should be interested only when it crosses the breakout level. The first hurdle will be the supply zone, where you can partially book your profit and wait for the price to break it. If the price breaks the ATH, the next reversal could be at 1625.