Tata Steel witnessed a star at 38.2 level.Price has recently increased in the stock while Open Interest is declined which indicates the bears are exiting the market covering their short position.Today once market is opened, if the price stays at 612 level and holds there for some time observe the price action and you could enter into the trade above 612 level.As it already retraced 38.2 level now we could expect a retracement at 61.8 level so we could book our profit at 640 as target.
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