Tata Steel Protect longs Buy 900 PA in dips

The daily candlestick chart of Tata Steel shows that it is in uptrend. The rally isgetting exhausted or is likely to take a pause as the oscillators are exhibitingnegative divergences. Those holding longs in Tisco can hedge by buying 900PA while high risk traders should follow a strict stop loss below Rs.10.50(preferably in close). Holding period is 4-5 days.

* Avoid gap openings and trade in cash in small quantities.

* ST - short term, MT- medium term