Tata Steel: Short-term bullish to sideways

Synopsis

Tata Steel’ daily trend is bullish. However, RSI for monthly and weekly is indicating a sideways trend. Based on option chain analysis, the range is between 100 and 120. This is a wide range. Let’s plan a trade around this.

Tata Steel’ daily trend is bullish. However, RSI for monthly and weekly is indicating a sideways trend. Based on maximum open interest, its maximum open interest at the PUT side is at strike 100, and on the CALL side, it is at 120. This is a wide range. We are assuming it will spend most of the time between 112-123. We are recommending a short Iron Condor strategy for taking the short-term non-directional strategy.

Where an entry can be

  • FONT SIZE
  • SAVE
  • PRINT
  • COMMENT

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

‘;
});
}
if(listing) {
var h3 = “You tried reading ” + listArr.length + ” locked stories in the past ” + threshold + ” days.”, h4 = “Become an ET Prime member and don’t miss out on these exclusive stories.”;
var html =

‘ + h3 + ‘

‘ + h4 + ‘

    ‘ + listing + ‘

‘;
$(‘#paidSCWidget’).html(html);
var callback = $(‘#paidSCWidget’).attr(‘data-callback’);
if(callback && window[callback]) {
window[callback]();
}
customDimension.dimension72 += ‘ | Shown SYFT no Trial_With Missed Paywalled Articles Collection’;
} else {
_processNormal()
}
}
});
} else {
_processNormal();
}
} catch (e) {
_processNormal();
}
}, function () {
_processNormal();
});
//console.log(‘storyCollectionLoad’, $);
}

Why ?

  • Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors

  • Stock analysis. Market Research. Industry Trends on 4000+ Stocks

  • Clean experience with
    Minimal Ads

  • Comment & Engage with ET Prime community

  • Exclusive invites to Virtual Events with Industry Leaders

  • A trusted team of Journalists & Analysts who can best filter signal from noise