Need a view

Shabbir,

I thought I would ask you this question long before, but the way things were progressing, that held me back.
I hold 200 Tata Steel @340, then it became a falling knife, and again bounced back to 300/315. Requesting your advise. Book losses & exit T Steel or hold.
I can hold till end of this year, but probably not after that. Also, for an info, I can add another 100 T steel more to the pile to avg. out the price.

 

In hourly chart downtrend already started ... I think Tata steel will fall to 164 levels ...

 

Thanks a lot Shabbir & Kiran. Will get out of the stock ASAP. Between, Kiran you think T Steel will fall to 164 or it wud be 264 ?

 

164 ....

 

ok how do you anticipate this? It would be a new low for T Steel then. We have seen a recovery in the base metals sector recently may be due to good pmi nos. coming in from china.

 

This i have taken based on febonical extension . These are just for projecting the fall .. dont trade based on this. Go with the trend....

 

I just see technical chart .. i do not use any fundamental concept ...

 

Thanks Kiran!!!