TATASTEEL FORMED AN ASCENDING OR INVERSE HEAD AND SHOULDER FORMATION

An ascending triangle formation in an uptrend is always going out to be strong pattern as it resembles the continuity of prevailing trend.

Indicator study supporting the upward breakout as the ADX WITH DMI indicator is above 15 which is showing strength in the prevailing direction.

Little bit concern with open interest in the previous session as it shows the liquidation of the futures contract.

Anyway , the chart story is quite attractive so my recommendation is to go long on any declines and maintain a stop loss at 687 and may be we will see 735 in short term .

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