TataSteel go short, June 2023 option

18 juin 2023

Tatasteel approaching trendline resistance for the month of June price action suggests to go short. Please see the image for detailed description.
This is more of educational purpose and It's important to note that this analysis is based on technical indicators and further research and analysis are recommended before anyone making any investment decisions and they will be solely responsible for taking their own decisions.

19 juin 2023

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expecting today to hit this target. let's see 112.75, can we make it :-)

20 juin 2023

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Price has showed resistance again at 115.00. Let's see if this double top formation on a five min timeframe gives any measured move to the downside

20 juin 2023

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As you can see the head and shoulder pattern developed on a 5 min time frame so expected move was down to 114.00. Let' s see if it goes below this and touches 113.80

21 juin 2023

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We have seen a good price action today, breaking the channel, from the channel trendline which is slightly unusual, on a 5 min timeframe.
Not the price is holding onto 113.55, for it to go down further it has to break 113.55, at the time it's just consolidating.
Not the channel trendline is acting as a resistance at 113.75. I wouldn't be surpised if it gets back into the channel and the price goes up to 114.00.
Next downside target is to break 113.55.

21 juin 2023

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NOTE not Not