Tata Steel Technical View:
-> Previously the stock had made 3 bottoms around 290-296 zone ( shown by arrows).
-> Post the breakdown the stock did make an attempt to get back above the zone which failed.
-> The stock has seen a huge 40% move with very good volumes.
-> Right now at 285 levels it is getting close to a very important resistance. But there is no change of trend yet.
-> Given the big rally and near resistance can expect a pullback to 260. A pre-emptive short trade can be initiated with stops at 295.
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