TATA Steel executed a large scale fake break out as illustrated in the RED BOX above.
India financial markets will follow this kind of bearish formation soon, with TATA Steel acting as a leading indicator. The above price structure is very bearish in nature. As TATA Steel is a pretty reliable leading indicator, India stocks market has a high chance of transiting into a market that is very bearish in nature.
Note also that based on TATA Steel as above, India economy is slowing down and going downhill now.