Currently the stock has discounted 14% from all time high levels.
Tata Steel (Daily):
1. Taking support from 38.2 Fibonacci levels
2. Good volumes on Breakout
3. Retesting done
4. Positive crossover of 5,13 Exponential Moving Average CNXMETAL
5. Reversal from 20 Days EMA
6. CNXMETAL Index also forming Flag and Pole Kinda formation
View Point:
1. Bullish
Addl Points:
1. FII/FPI have decreased holdings from 0.55% to 0.53% in Dec 2021 qtr
2. Mutual Funds have increased holdings from 4.84% to 4.89% in Dec 2021 qtr. CNXMETAL
Notes:
1. The above analysis is just for educational purpose.
Tata Steel (Daily):
1. Taking support from 38.2 Fibonacci levels
2. Good volumes on Breakout
3. Retesting done
4. Positive crossover of 5,13 Exponential Moving Average CNXMETAL
5. Reversal from 20 Days EMA
6. CNXMETAL Index also forming Flag and Pole Kinda formation
View Point:
1. Bullish
Addl Points:
1. FII/FPI have decreased holdings from 0.55% to 0.53% in Dec 2021 qtr
2. Mutual Funds have increased holdings from 4.84% to 4.89% in Dec 2021 qtr. CNXMETAL
Notes:
1. The above analysis is just for educational purpose.