From Last couple of days, Volatility is picking up in the Stock market. Most of stocks in Nifty 50 and Nifty 100 are witnessing persistent Selling Pressure and Tata Steel is one of them.
Tata Steel – Price Action Analysis on 2h Chart
In the 2h Chart of Tata Steel, we can notice a Level Hold Trading Setup taking place on Stock Prices. Level Hold is one of the Price Action Trading Strategy that helps us to find high probability trading opportunities. In case if you don’t know what exactly is Level Hold, checkout our video on Free Price Action Trading Course, Lesson 7. I have explained in detail over there… Also will link the video below, make sure to take a look.
Based on the Price Action Level Hold Setup, we can understand few things that are taking place in the Stock. First of all Sellers are attempting to push the prices downside, as a result we can see a very Big Gap down recently. Another thing is we can notice a tough battle between Buyers and Sellers taking place.
Because of these two factors, we can expect more Volatility in Stock Prices on upcoming days. Traders and Investors, who have positions in Tata steel, need to take some caution in their mind.
The Major resistance is at 1550 and the major support is at 1400. Price Action has to break either of these levels to move sharply from the current price. Keep an eye on the Stock prices and trade accordingly.
