TATA STEEL trading near support levels

TATA STEEL DAILY CHART

TATA STEEL DAILY CHART - II

• TATA STEEL is showing down trend in daily chart.
• It is close to its support zone at 520.
• The daily MACD is showing a positive divergence developing.But the down move may not have ended. The stock may test 520 levels before bouncing back to break the down trend line.
• If the down move from 540 levels to 520 levels is accompanied by the developing positive divergence we can take a long trade from 510-520 levels with 500 as stop loss.

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