Tata Chemicals( Short Set Up)

After a massacre of Tata Stock, On Friday we saw some shortcoverting in tata stocks.

Trend is broken down, hence one should use this bounce to short.

Price retraced to 200 EMA and took resistance , also there is a Fiblevel which will act as resistance.

Short Target 1- 534
Target 2- 528
SL- 550.