Tata Steel: Technical Analysis at it's very best...!!! 🙂🙂
I have been trading Tata Steel since October 2022 and In the month of November this is what was posted for Tata Steel
The stock was trading at 104.75
- Target given was 113 / 118 / 122
- also had suggested the importance of Green Line acting as support ( Click on the above chart for detailed analysis of November 2022)
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You can see now that Tata Steel has respected the levels identified with the help of Technical Analysis to perfection
- green line provided the support
- yellow zone acted as resistance for a good time
- once above that, today it has given a big breakout trading 6% up for the day at 119.45
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Our expectation was Tata Steel to hit our targets around mid December. It has achieved it in 1st week of January 2023. Not bad I guess....
In this difficult market, the idea has provided a nice 15% profit in little less than 2 months.
Fixed Deposits will take 2 years to give that kind of returns.
What more do you want from Technical Analysis. I sincerely hope the idea has helped you guys.
If bought earlier, consider to book partial profits and Trail SL to 116. Book full profits as we get closer to red Line of Resistance.
Let me know if you find the analysis and insights helpful.
Do hit the Like button (itna haq toh banta hai 🙂) and Follow for more ideas like these...!!!
Take care & happy trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
The stock was trading at 104.75
- Target given was 113 / 118 / 122
- also had suggested the importance of Green Line acting as support ( Click on the above chart for detailed analysis of November 2022)
_______________________________________________________________________________________________
You can see now that Tata Steel has respected the levels identified with the help of Technical Analysis to perfection
- green line provided the support
- yellow zone acted as resistance for a good time
- once above that, today it has given a big breakout trading 6% up for the day at 119.45
_______________________________________________________________________________________________
Our expectation was Tata Steel to hit our targets around mid December. It has achieved it in 1st week of January 2023. Not bad I guess....
In this difficult market, the idea has provided a nice 15% profit in little less than 2 months.
Fixed Deposits will take 2 years to give that kind of returns.
What more do you want from Technical Analysis. I sincerely hope the idea has helped you guys.
If bought earlier, consider to book partial profits and Trail SL to 116. Book full profits as we get closer to red Line of Resistance.
Let me know if you find the analysis and insights helpful.
Do hit the Like button (itna haq toh banta hai 🙂) and Follow for more ideas like these...!!!
Take care & happy trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
