Today Tata Steel Limited has formed Inverted Hammer in Candlestick Charts. Tata Steel has been in a downward journey for quite sometime. The inverted hammer evidence that the downtrend is close to its bottom and the trend may change in the coming days. Today Tata Steel has opened at 585.00 and went up to 607.50 and closed at 593.30.
Inverted Hammer is the sign of reversal in the recent downtrend. There was a balanced between buyers and sellers, even at sometime the buyers are dominating the stock. Eventually the attempt has failed and the stock has closed near the day's open.
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